Ovintiv Inc. (NYSE:OVV) Shares Sold by Altshuler Shaham Ltd

Altshuler Shaham Ltd cut its position in shares of Ovintiv Inc. (NYSE:OVV) by 29.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,015 shares of the company’s stock after selling 421 shares during the quarter. Altshuler Shaham Ltd’s holdings in Ovintiv were worth $45,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Ovintiv by 0.3% during the 3rd quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock worth $4,265,000 after acquiring an additional 261 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Ovintiv by 20.5% during the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock worth $80,000 after acquiring an additional 284 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Ovintiv by 1.7% during the 3rd quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock worth $908,000 after acquiring an additional 317 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Ovintiv by 20.3% during the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock worth $85,000 after acquiring an additional 328 shares in the last quarter. Finally, Washington Trust Bank boosted its stake in shares of Ovintiv by 6.3% during the 3rd 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 23,672 shares in the company, valued at $1,206,325.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now directly owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. 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 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OVV shares. Morgan Stanley raised their price objective on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company decreased their target price 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. Citigroup raised their target price on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Jefferies Financial Group raised their target price on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada raised their target price on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Down 3.1 %

OVV traded down $1.63 during trading on Wednesday, reaching $50.88. 6,413,754 shares of the stock traded hands, compared to its average volume of 3,048,704. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 6.45 and a beta of 2.65. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $46.71.

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. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. As a group, equities research analysts expect that Ovintiv Inc. will post 6.13 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.36%. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

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.