Daiwa Securities Group Inc. Acquires 1,000 Shares of Ovintiv Inc. (NYSE:OVV)

Daiwa Securities Group Inc. grew its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,100 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ovintiv were worth $707,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OVV. Victory Capital Management Inc. increased its position in shares of Ovintiv by 10.7% in the third quarter. Victory Capital Management Inc. now owns 528,836 shares of the company’s stock valued at $25,157,000 after acquiring an additional 51,261 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Ovintiv by 15.5% during the 3rd quarter. Toronto Dominion Bank now owns 761,303 shares of the company’s stock worth $36,215,000 after purchasing an additional 101,978 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 valued at $1,285,816,000 after buying an additional 2,484,554 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Ovintiv by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 1,124,654 shares of the company’s stock valued at $53,500,000 after buying an additional 27,381 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of Ovintiv in the third quarter valued at $18,097,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OVV has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target 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. National Bankshares reduced their price target on Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Barclays began coverage on Ovintiv in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective on the stock. Citigroup lifted their target price on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, UBS Group increased their price objective on shares of Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the sale, the director now owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the sale, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now owns 36,840 shares of the company’s stock, 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 three months. 1.70% of the stock is owned by insiders.

Ovintiv Stock Performance

NYSE:OVV opened at $53.17 on Friday. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 6.74 and a beta of 2.65. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a fifty day moving average price of $50.82 and a 200-day moving average price of $46.62.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.41. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. As a group, equities analysts anticipate that Ovintiv Inc. will post 6.13 EPS for the current fiscal year.

Ovintiv Dividend Announcement

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 $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.26%. 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.