764 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by Avalon Trust Co

Avalon Trust Co acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 764 shares of the company’s stock, valued at approximately $34,000.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Ovintiv in the third quarter worth $440,000. Robeco Institutional Asset Management B.V. increased its position in Ovintiv by 45.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 50,226 shares of the company’s stock worth $2,389,000 after purchasing an additional 15,704 shares during the last quarter. Xponance Inc. raised its stake in shares of Ovintiv by 0.6% during the 3rd quarter. Xponance Inc. now owns 41,823 shares of the company’s stock worth $1,990,000 after purchasing an additional 240 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Ovintiv by 2.1% during the 3rd quarter. Raymond James & Associates now owns 182,985 shares of the company’s stock valued at $8,705,000 after buying an additional 3,840 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Ovintiv by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,039,681 shares of the company’s stock valued at $144,598,000 after buying an additional 130,225 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV traded up $0.47 during mid-day trading on Friday, hitting $51.54. The company’s stock had a trading volume of 2,782,248 shares, compared to its average volume of 2,329,908. The stock’s 50-day moving average is $51.59 and its two-hundred day moving average is $46.68. The firm has a market capitalization of $13.86 billion, a PE ratio of 6.53 and a beta of 2.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. Ovintiv Inc. has a one year low of $32.07 and a one year high of $55.95.

Ovintiv (NYSE:OVV) last issued 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 firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. As a group, sell-side analysts anticipate that Ovintiv Inc. will post 6.13 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 15.21%.

Insider Activity at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,862,630.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction dated 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 approximately $1,862,630.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rachel Maureen Moore sold 9,300 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the transaction, the executive vice president now owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock worth $4,660,818 over the last three months. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OVV shares. Scotiabank reduced their target price 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. Jefferies Financial Group upped their price objective on shares of Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada increased their target price on shares of Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Citigroup boosted their price target on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, UBS Group increased their price objective on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.71.

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.