Ovintiv Inc. (NYSE:OVV) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its position in Ovintiv Inc. (NYSE:OVV) by 90.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,937 shares of the company’s stock after buying an additional 4,256 shares during the period. Cerity Partners LLC’s holdings in Ovintiv were worth $393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ovintiv by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after buying an additional 2,484,554 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Ovintiv in the fourth quarter valued at approximately $67,149,000. FMR LLC increased its stake in shares of Ovintiv by 2.3% during the 3rd quarter. FMR LLC now owns 22,877,626 shares of the company’s stock worth $1,088,289,000 after purchasing an additional 507,562 shares in the last quarter. Barclays PLC raised its position in shares of Ovintiv by 49.3% during the 3rd quarter. Barclays PLC now owns 1,267,872 shares of the company’s stock worth $60,313,000 after purchasing an additional 418,722 shares during the last quarter. Finally, Comerica Bank purchased a new stake in Ovintiv in the 3rd quarter valued at approximately $18,097,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now directly owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $50.96, for a total value of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock valued at $4,660,818 over the last quarter. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on OVV shares. Morgan Stanley upped their price objective on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company dropped their price target on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Mizuho reissued a “buy” rating and issued a $58.00 price objective on shares of Ovintiv in a research report on Thursday, April 4th. National Bankshares dropped their target price on Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Finally, Citigroup boosted their price target on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Performance

OVV stock opened at $53.26 on Friday. The stock’s 50 day simple moving average is $50.99 and its 200 day simple moving average is $46.65. Ovintiv Inc. has a 12-month low of $32.07 and a 12-month high of $55.95. The firm has a market cap of $14.32 billion, a P/E ratio of 6.75 and a beta of 2.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $2.75 billion. As a group, equities research analysts predict that Ovintiv Inc. will post 6.13 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.25%. Ovintiv’s dividend payout ratio (DPR) is 15.21%.

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.