7,560 Shares in Ovintiv Inc. (NYSE:OVV) Bought by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. acquired a new position in shares of Ovintiv Inc. (NYSE:OVVFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,560 shares of the company’s stock, valued at approximately $332,000.

A number of other hedge funds also recently added to or reduced their stakes in OVV. Vanguard Group Inc. lifted its stake in Ovintiv by 10.1% in the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock valued at $1,285,816,000 after buying an additional 2,484,554 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Ovintiv in the fourth quarter valued at $67,149,000. Public Employees Retirement Association of Colorado lifted its stake in Ovintiv by 2,602.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock valued at $31,410,000 after buying an additional 688,690 shares during the last quarter. FMR LLC lifted its stake in Ovintiv by 2.3% in the third quarter. FMR LLC now owns 22,877,626 shares of the company’s stock valued at $1,088,289,000 after buying an additional 507,562 shares during the last quarter. Finally, Comerica Bank acquired a new position in shares of Ovintiv during the third quarter valued at $18,097,000. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Down 1.5 %

NYSE OVV traded down $0.74 during trading on Friday, reaching $47.63. 2,204,290 shares of the company’s stock were exchanged, compared to its average volume of 2,523,170. The firm has a market capitalization of $12.72 billion, a PE ratio of 6.65 and a beta of 2.58. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53. Ovintiv Inc. has a fifty-two week low of $34.50 and a fifty-two week high of $55.95. The company’s fifty day simple moving average is $51.28 and its 200-day simple moving average is $47.13.

Ovintiv (NYSE:OVVGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. Sell-side analysts predict that Ovintiv Inc. will post 6.15 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, June 14th. Ovintiv’s payout ratio is 16.76%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada raised their price target on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Jefferies Financial Group lifted their target price on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group lifted their target price on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. UBS Group lifted their target price on Ovintiv from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Mizuho lifted their target price on Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Ovintiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.56.

View Our Latest Stock Report on Ovintiv

Insider Activity at Ovintiv

In related news, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the transaction, the director now directly owns 8,929 shares of the company’s stock, valued at approximately $446,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the completion of 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. In the last ninety days, insiders have sold 92,264 shares of company stock valued at $4,690,973. Corporate insiders own 1.70% of the company’s stock.

Ovintiv Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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