Highland Capital Management LLC Has $1.47 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Highland Capital Management LLC lowered its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,480 shares of the company’s stock after selling 570 shares during the period. Highland Capital Management LLC’s holdings in Ovintiv were worth $1,470,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Loomis Sayles & Co. L P boosted its holdings in Ovintiv by 107.6% in the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after acquiring an additional 341 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Ovintiv by 62.5% during the first quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock valued at $34,000 after acquiring an additional 358 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Ovintiv during the third quarter valued at approximately $36,000. Pacifica Partners Inc. purchased a new stake in shares of Ovintiv during the fourth quarter valued at approximately $37,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Ovintiv during the third quarter valued at approximately $38,000. Institutional investors and hedge funds 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 business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the sale, the director now owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the business’s 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 owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the sale, the director now directly owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Insiders sold a total of 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.

Wall Street Analysts Forecast Growth

OVV has been the subject of a number of research analyst reports. Mizuho decreased their price target on Ovintiv from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised Ovintiv from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $61.00 to $58.00 in a research report on Wednesday, December 6th. Wells Fargo & Company decreased their target price on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Scotiabank decreased their target price on Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group lifted their price target on Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $53.94.

Ovintiv Price Performance

NYSE:OVV opened at $51.37 on Thursday. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 6.51 and a beta of 2.66. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $52.09. The stock has a fifty day moving average of $45.90 and a 200 day moving average of $45.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $2.75 billion. On average, research analysts expect that Ovintiv Inc. will post 5.95 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 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.