Ovintiv Inc. $OVV Shares Sold by Savant Capital LLC

Savant Capital LLC lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 61.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,016 shares of the company’s stock after selling 22,755 shares during the quarter. Savant Capital LLC’s holdings in Ovintiv were worth $549,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC purchased a new position in Ovintiv in the third quarter valued at $36,000. Flagship Harbor Advisors LLC purchased a new position in Ovintiv in the fourth quarter valued at $38,000. IFP Advisors Inc increased its holdings in Ovintiv by 58.4% in the third quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock valued at $54,000 after buying an additional 494 shares during the last quarter. Advisory Services Network LLC purchased a new position in Ovintiv in the third quarter valued at $58,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Ovintiv by 258.2% in the third quarter. CIBC Private Wealth Group LLC now owns 1,576 shares of the company’s stock valued at $64,000 after buying an additional 1,136 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OVV. Zacks Research raised Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Scotiabank raised Ovintiv from an “outperform” rating to a “buy” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. began coverage on Ovintiv in a report on Wednesday, February 25th. They issued an “overweight” rating and a $58.00 target price on the stock. Roth Mkm increased their target price on Ovintiv from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Ovintiv in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. This trade represents a 17.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV stock opened at $59.21 on Friday. The stock’s 50-day moving average is $58.12 and its two-hundred day moving average is $49.14. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 19.10 and a beta of 0.53. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $63.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.56.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Monday, May 11th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.15. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%. Analysts predict that Ovintiv Inc. will post 8.15 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. Ovintiv’s dividend payout ratio (DPR) is presently 38.71%.

Ovintiv Company Profile

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.