Retirement Systems of Alabama Buys 1,141 Shares of Ovintiv Inc. (NYSE:OVV)

Retirement Systems of Alabama boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 317,870 shares of the company’s stock after buying an additional 1,141 shares during the quarter. Retirement Systems of Alabama’s holdings in Ovintiv were worth $13,961,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OVV. Quent Capital LLC grew its position in Ovintiv by 151.3% during the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after buying an additional 351 shares during the period. Loomis Sayles & Co. L P grew its position in Ovintiv by 107.6% during the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock valued at $31,000 after buying an additional 341 shares during the period. Pacifica Partners Inc. bought a new stake in Ovintiv during the fourth quarter valued at approximately $37,000. Quantbot Technologies LP bought a new stake in Ovintiv during the third quarter valued at approximately $38,000. Finally, Fifth Third Bancorp grew its position in Ovintiv by 42.1% during the third quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock valued at $77,000 after buying an additional 479 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

OVV stock opened at $50.72 on Thursday. Ovintiv Inc. has a one year low of $32.07 and a one year high of $55.95. The company’s fifty day moving average price is $51.39 and its 200-day moving average price is $46.70. 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 company has a market capitalization of $13.64 billion, a PE ratio of 6.43 and a beta of 2.65.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results 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. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. On average, equities analysts anticipate that Ovintiv Inc. will post 6.13 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio is presently 15.21%.

Insider Buying and Selling

In related news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at $1,862,630.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at $1,862,630.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the business’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 completion of 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. Over the last 90 days, insiders have sold 91,564 shares of company stock worth $4,660,818. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. UBS Group lifted their price target on shares of Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 11th. National Bankshares lowered their price target on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Royal Bank of Canada lifted their price target on shares of Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Finally, Citigroup lifted their price target on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

About Ovintiv

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.