Ovintiv Inc. (NYSE:OVV) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its position in Ovintiv Inc. (NYSE:OVV) by 19.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 40,388 shares of the company’s stock after selling 9,838 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ovintiv were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OVV. Fifth Third Bancorp raised its stake in shares of Ovintiv by 42.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock worth $77,000 after buying an additional 479 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Ovintiv by 3.9% in the third quarter. Teacher Retirement System of Texas now owns 39,193 shares of the company’s stock valued at $1,864,000 after purchasing an additional 1,479 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Ovintiv by 5.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,100 shares of the company’s stock valued at $718,000 after purchasing an additional 800 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Ovintiv by 2.4% in the third quarter. Principal Financial Group Inc. now owns 990,104 shares of the company’s stock valued at $47,099,000 after purchasing an additional 23,040 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Ovintiv by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 476,331 shares of the company’s stock worth $22,659,000 after purchasing an additional 13,830 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Price Performance

Ovintiv stock opened at $48.73 on Thursday. Ovintiv Inc. has a 1 year low of $32.49 and a 1 year high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a 50 day moving average price of $51.89 and a 200 day moving average price of $46.83. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 6.81 and a beta of 2.64.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 18.12% and a return on equity of 17.74%. Sell-side analysts predict that Ovintiv Inc. will post 6.08 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, June 14th. Ovintiv’s dividend payout ratio (DPR) is presently 16.76%.

Insiders Place Their Bets

In other news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was 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 owns 36,840 shares in the company, valued at approximately $1,862,630.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Howard John Mayson sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the transaction, the director now directly owns 8,929 shares in the company, valued at $446,450. The disclosure for this sale can be found here. Insiders sold 103,564 shares of company stock worth $5,260,818 over the last three months. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OVV has been the topic of a number of recent research reports. Citigroup upped their target price on Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada upped their price objective on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Barclays started coverage on Ovintiv in a research report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price objective for the company. UBS Group upped their target price on shares of Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price target on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $57.12.

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.