Ovintiv Inc. (NYSE:OVV) Shares Sold by Signaturefd LLC

Signaturefd LLC trimmed its stake in Ovintiv Inc. (NYSE:OVV) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,790 shares of the company’s stock after selling 303 shares during the quarter. Signaturefd LLC’s holdings in Ovintiv were worth $825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Xponance Inc. boosted its position in shares of Ovintiv by 0.6% in the 3rd quarter. Xponance Inc. now owns 41,823 shares of the company’s stock valued at $1,990,000 after purchasing an additional 240 shares during the period. LPL Financial LLC lifted its stake in Ovintiv by 0.3% during the third quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock valued at $4,265,000 after buying an additional 261 shares in the last quarter. Blue Trust Inc. lifted its stake in Ovintiv by 20.5% during the fourth quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock valued at $80,000 after buying an additional 284 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Ovintiv by 20.3% in the fourth quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock worth $85,000 after buying an additional 328 shares during the period. Finally, Washington Trust Bank increased its position in shares of Ovintiv by 6.3% in the third quarter. Washington Trust Bank now owns 5,721 shares of the company’s stock worth $272,000 after acquiring an additional 340 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Scotiabank decreased their price objective on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. The Goldman Sachs Group raised their target price on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Jefferies Financial Group upped their price target on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Wells Fargo & Company decreased their price objective 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. Finally, Royal Bank of Canada upped their target price on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Ovintiv Stock Performance

Shares of OVV opened at $52.18 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53. Ovintiv Inc. has a 12 month low of $32.07 and a 12 month high of $55.95. The company’s fifty day moving average is $50.21 and its 200-day moving average is $46.48. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 6.61 and a beta of 2.65.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. Equities analysts expect that Ovintiv Inc. will post 6.36 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio is currently 15.21%.

Insider Buying and Selling at Ovintiv

In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the 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 sale, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard John Mayson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now directly owns 36,840 shares in the company, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders sold 91,564 shares of company stock worth $4,660,818 over the last ninety days. Company insiders own 0.97% of the company’s stock.

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.