Ovintiv Inc. (NYSE:OVV) Stake Boosted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its position in shares of Ovintiv Inc. (NYSE:OVVFree Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,454 shares of the company’s stock after buying an additional 979 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ovintiv were worth $767,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC raised its holdings in shares of Ovintiv by 151.3% during the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after acquiring an additional 351 shares during the period. Loomis Sayles & Co. L P raised its stake in Ovintiv by 107.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock valued at $31,000 after purchasing an additional 341 shares during the period. Avalon Trust Co purchased a new stake in shares of Ovintiv in the fourth quarter valued at $34,000. Quantbot Technologies LP acquired a new stake in shares of Ovintiv in the third quarter worth $38,000. Finally, Pacifica Partners Inc. purchased a new position in shares of Ovintiv during the fourth quarter valued at $37,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 4,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the transaction, the director now owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ovintiv news, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the sale, the director now owns 8,929 shares of the company’s stock, valued at approximately $446,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares in the company, valued at $2,315,568.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,264 shares of company stock worth $4,690,973. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OVV has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Mizuho raised their price target on shares of Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Citigroup upped their price objective on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Jefferies Financial Group lifted their target price on shares of Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Barclays initiated coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price target on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $58.06.

Read Our Latest Analysis on OVV

Ovintiv Stock Performance

OVV opened at $48.51 on Tuesday. 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 company has a market cap of $12.95 billion, a PE ratio of 6.78 and a beta of 2.58. The stock has a 50-day moving average of $51.21 and a 200-day moving average of $47.19. Ovintiv Inc. has a 52-week low of $34.50 and a 52-week high of $55.95.

Ovintiv (NYSE:OVVGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.58 billion. As a group, equities research analysts forecast that Ovintiv Inc. will post 6.15 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.47%. Ovintiv’s payout ratio is presently 16.76%.

Ovintiv Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.