Ovintiv Inc. (NYSE:OVV) Shares Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its holdings in Ovintiv Inc. (NYSE:OVV) by 38.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,839 shares of the company’s stock after buying an additional 2,436 shares during the period. Great Lakes Advisors LLC’s holdings in Ovintiv were worth $388,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Ovintiv by 10.1% in the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock valued at $1,285,816,000 after purchasing an additional 2,484,554 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Ovintiv in the 4th quarter valued at about $67,149,000. FMR LLC grew its position in shares of Ovintiv by 2.3% during the third quarter. FMR LLC now owns 22,877,626 shares of the company’s stock worth $1,088,289,000 after buying an additional 507,562 shares in the last quarter. Barclays PLC increased its stake in shares of Ovintiv by 49.3% during the third quarter. Barclays PLC now owns 1,267,872 shares of the company’s stock worth $60,313,000 after buying an additional 418,722 shares during the period. Finally, Comerica Bank purchased a new position in Ovintiv in the third quarter worth approximately $18,097,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on OVV. Barclays began coverage on shares of Ovintiv in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective on the stock. Morgan Stanley raised their price target on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Jefferies Financial Group upped their price objective on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Mizuho raised their target price on Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, UBS Group upped their price target on Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average price target of $57.12.

Insider Activity at Ovintiv

In other Ovintiv news, EVP Rachel Maureen Moore sold 9,300 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.65, for a total transaction of $471,045.00. Following the completion of the transaction, the executive vice president now owns 52,557 shares in the company, valued at approximately $2,662,012.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the completion of the sale, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the transaction, the executive vice president now directly owns 23,672 shares in the company, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders have sold a total of 103,564 shares of company stock worth $5,260,818 in the last three months. Insiders own 1.70% of the company’s stock.

Ovintiv Trading Down 1.5 %

NYSE OVV opened at $48.73 on Thursday. The firm’s fifty day moving average is $51.89 and its two-hundred day moving average is $46.83. Ovintiv Inc. has a one year low of $32.49 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $13.01 billion, a PE ratio of 6.81 and a beta of 2.64.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.41. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Analysts expect that Ovintiv Inc. will post 6.08 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, June 14th. Ovintiv’s dividend payout ratio is presently 16.76%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.