Ovintiv Inc. (NYSE:OVV) Stake Raised by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 1,202.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,879 shares of the company’s stock after purchasing an additional 12,813 shares during the period. International Assets Investment Management LLC’s holdings in Ovintiv were worth $610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Ovintiv by 10.1% during the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after purchasing an additional 2,484,554 shares in the last quarter. FMR LLC raised its holdings in Ovintiv by 2.3% during the third 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. Smead Capital Management Inc. grew its position in Ovintiv by 2.5% in the third quarter. Smead Capital Management Inc. now owns 5,524,515 shares of the company’s stock worth $262,801,000 after buying an additional 136,016 shares during the last quarter. Bank of New York Mellon Corp grew its position in Ovintiv by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 3,039,681 shares of the company’s stock worth $144,598,000 after buying an additional 130,225 shares during the last quarter. Finally, Northern Trust Corp grew its position in Ovintiv by 4.5% in the third quarter. Northern Trust Corp now owns 2,069,043 shares of the company’s stock worth $98,424,000 after buying an additional 89,753 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OVV shares. UBS Group lifted their price target on shares of Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada lifted their price target on shares of Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Scotiabank decreased their price target on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Barclays started coverage on shares of Ovintiv in a research report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price objective on the stock. Finally, Jefferies Financial Group lifted their price objective on shares of Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Insider Activity

In other news, Director Howard John Mayson sold 6,000 shares of the company’s 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 transaction, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s 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 $1,206,325.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of the company’s 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 directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,564 shares of company stock valued at $4,660,818. Insiders own 0.97% of the company’s stock.

Ovintiv Stock Up 0.2 %

Ovintiv stock opened at $52.90 on Thursday. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 6.70 and a beta of 2.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95. The firm has a fifty day moving average price of $50.64 and a two-hundred day moving average price of $46.58.

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

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio 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.