Ovintiv Inc. (NYSE:OVV) Stock Position Decreased by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,304 shares of the company’s stock after selling 7,732 shares during the period. Federated Hermes Inc. owned 0.06% of Ovintiv worth $7,787,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Ovintiv in the 3rd quarter worth about $440,000. Asset Management One Co. Ltd. lifted its stake in Ovintiv by 8.3% during the third quarter. Asset Management One Co. Ltd. now owns 100,725 shares of the company’s stock valued at $4,791,000 after purchasing an additional 7,719 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Ovintiv by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 128,331 shares of the company’s stock valued at $6,105,000 after purchasing an additional 468 shares during the last quarter. Modus Advisors LLC lifted its stake in Ovintiv by 3.0% during the third quarter. Modus Advisors LLC now owns 95,350 shares of the company’s stock valued at $4,536,000 after purchasing an additional 2,813 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Ovintiv by 45.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 50,226 shares of the company’s stock valued at $2,389,000 after purchasing an additional 15,704 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV opened at $52.90 on Thursday. The company’s fifty day moving average is $50.64 and its 200-day moving average is $46.58. Ovintiv Inc. has a 12 month low of $32.07 and a 12 month high of $55.95. 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 quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 EPS 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 analyst estimates of $2.75 billion. Equities analysts expect that Ovintiv Inc. will post 6.13 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.27%. Ovintiv’s dividend payout ratio (DPR) is 15.21%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OVV. 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 note on Wednesday, January 17th. Citigroup increased their target price on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group increased their target price on shares of Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Mizuho restated a “buy” rating and set a $58.00 price target on shares of Ovintiv in a report on Thursday, April 4th. Finally, Royal Bank of Canada boosted 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. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.71.

Insider Transactions at Ovintiv

In related news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Rachel Maureen Moore sold 9,300 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.65, for a total transaction of $471,045.00. Following the completion of the sale, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was 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 of the company’s stock, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,564 shares of company stock worth $4,660,818 in the last 90 days. 1.70% of the stock is owned by insiders.

Ovintiv 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.