Carrera Capital Advisors Invests $1.82 Million in Ovintiv Inc. $OVV

Carrera Capital Advisors purchased a new stake in Ovintiv Inc. (NYSE:OVV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,059 shares of the company’s stock, valued at approximately $1,819,000.

Several other hedge funds have also added to or reduced their stakes in OVV. McIlrath & Eck LLC acquired a new position in Ovintiv in the third quarter valued at about $31,000. IFP Advisors Inc raised its position in shares of Ovintiv by 316.7% during the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after purchasing an additional 643 shares during the period. HM Payson & Co. bought a new position in shares of Ovintiv during the 3rd quarter valued at about $36,000. Quent Capital LLC acquired a new position in shares of Ovintiv in the 3rd quarter valued at approximately $37,000. Finally, MAI Capital Management grew its position in shares of Ovintiv by 174.6% in the 2nd quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after purchasing an additional 744 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. National Bankshares dropped their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Morgan Stanley dropped their price objective on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Scotiabank boosted their price objective on shares of Ovintiv from $51.00 to $58.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. UBS Group reaffirmed a “buy” rating on shares of Ovintiv in a research note on Thursday, January 22nd. Finally, Evercore ISI reissued an “outperform” rating and issued a $47.00 price target on shares of Ovintiv in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.82.

Ovintiv Stock Performance

Shares of OVV opened at $43.41 on Friday. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 47.70, a PEG ratio of 2.56 and a beta of 0.76. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $45.96. The firm has a fifty day simple moving average of $39.95 and a 200 day simple moving average of $39.80. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. Research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, December 15th. Ovintiv’s dividend payout ratio is presently 131.87%.

Insider Buying and Selling

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.33, for a total value of $2,016,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,867 shares in the company, valued at $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.