Ovintiv Inc. (NYSE:OVV) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Ovintiv Inc. (NYSE:OVVFree Report) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 528,836 shares of the company’s stock after purchasing an additional 51,261 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Ovintiv worth $25,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new stake in Ovintiv in the 4th quarter valued at $41,000. Harbour Investments Inc. grew its holdings in shares of Ovintiv by 124.6% during the 4th quarter. Harbour Investments Inc. now owns 923 shares of the company’s stock worth $47,000 after purchasing an additional 512 shares during the period. Belpointe Asset Management LLC grew its holdings in shares of Ovintiv by 62.5% during the 1st quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock worth $34,000 after purchasing an additional 358 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Ovintiv during the 3rd quarter worth $52,000. Finally, Ronald Blue Trust Inc. grew its holdings in shares of Ovintiv by 76.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,383 shares of the company’s stock worth $66,000 after purchasing an additional 600 shares during the period. 98.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OVV has been the topic of several research reports. Royal Bank of Canada increased their target price on Ovintiv from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 10th. Wells Fargo & Company decreased their target price on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Morgan Stanley increased their price target on Ovintiv from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 17th. Scotiabank reduced their price target on Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, Mizuho cut their target price on Ovintiv from $67.00 to $59.00 in a research report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus target price of $53.38.

Get Our Latest Stock Analysis on Ovintiv

Insider Buying and Selling at Ovintiv

In other Ovintiv news, EVP Meghan Nicole Eilers sold 7,000 shares of Ovintiv stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $41.37, for a total value of $289,590.00. Following the transaction, the executive vice president now directly owns 20,441 shares in the company, valued at approximately $845,644.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Steven W. Nance sold 13,000 shares of Ovintiv stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $43.78, for a total value of $569,140.00. Following the sale, the director now directly owns 24,193 shares in the company, valued at $1,059,169.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Meghan Nicole Eilers sold 7,000 shares of Ovintiv stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $41.37, for a total value of $289,590.00. Following the transaction, the executive vice president now directly owns 20,441 shares of the company’s stock, valued at $845,644.17. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Ovintiv Trading Down 2.5 %

NYSE:OVV opened at $42.42 on Thursday. The stock’s 50 day moving average price is $42.89 and its 200 day moving average price is $45.39. The company has a market capitalization of $11.58 billion, a PE ratio of 4.21, a P/E/G ratio of 1.83 and a beta of 2.64. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.57. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $51.60.

Ovintiv (NYSE:OVVGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Ovintiv had a return on equity of 16.15% and a net margin of 23.46%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.58 billion. On average, research analysts anticipate that Ovintiv Inc. will post 6.42 EPS for the current year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. Ovintiv’s dividend payout ratio (DPR) is currently 11.90%.

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. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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