Avior Wealth Management LLC Buys 636 Shares of Ovintiv Inc. (NYSE:OVV)

Avior Wealth Management LLC boosted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,397 shares of the company’s stock after buying an additional 636 shares during the period. Avior Wealth Management LLC’s holdings in Ovintiv were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ovintiv by 121.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,383 shares of the company’s stock worth $4,014,000 after purchasing an additional 50,152 shares during the period. Mackenzie Financial Corp grew its stake in shares of Ovintiv by 2.5% during the fourth quarter. Mackenzie Financial Corp now owns 146,518 shares of the company’s stock valued at $6,435,000 after buying an additional 3,618 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Ovintiv by 54.5% in the fourth quarter. Bison Wealth LLC now owns 12,608 shares of the company’s stock worth $554,000 after buying an additional 4,448 shares during the period. Cornercap Investment Counsel Inc. lifted its stake in shares of Ovintiv by 10.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 24,813 shares of the company’s stock worth $1,090,000 after acquiring an additional 2,357 shares during the last quarter. Finally, Strs Ohio grew its position in Ovintiv by 31.0% in the 4th quarter. Strs Ohio now owns 26,508 shares of the company’s stock valued at $1,164,000 after acquiring an additional 6,280 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OVV. The Goldman Sachs Group boosted their target price on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Barclays initiated coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 target price on the stock. National Bankshares decreased their price target on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Royal Bank of Canada increased their price objective on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley raised their price objective on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and a consensus price target of $56.71.

Ovintiv Trading Down 0.4 %

OVV opened at $51.53 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 6.53 and a beta of 2.65. Ovintiv Inc. has a 12 month low of $32.07 and a 12 month high of $55.95. The stock has a fifty day moving average price of $49.81 and a 200-day moving average price of $46.36.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. As a group, equities research analysts anticipate that Ovintiv Inc. will post 6.36 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company 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 dividend yield of 2.33%. Ovintiv’s dividend payout ratio (DPR) is presently 15.21%.

Insider Activity at Ovintiv

In other news, 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 transaction of $3,886,413.44. Following the transaction, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at $1,206,325.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ovintiv news, EVP Rachel Maureen Moore sold 9,300 shares of the stock in a transaction dated 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 in the company, valued at $2,662,012.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 23,672 shares in the company, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders sold 91,564 shares of company stock valued at $4,660,818 over the last 90 days. Insiders own 1.70% of the company’s stock.

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.