Natixis Takes $171,000 Position in Ovintiv Inc. (NYSE:OVV)

Natixis purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,296 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors have also recently made changes to their positions in OVV. Raymond James & Associates lifted its position in shares of Ovintiv by 2.1% during the 4th quarter. Raymond James & Associates now owns 186,751 shares of the company’s stock valued at $8,202,000 after buying an additional 3,766 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Ovintiv by 5.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,782 shares of the company’s stock valued at $737,000 after buying an additional 920 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Ovintiv by 20.5% during the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock valued at $80,000 after buying an additional 284 shares during the last quarter. Quent Capital LLC lifted its position in shares of Ovintiv by 151.3% during the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after buying an additional 351 shares during the last quarter. Finally, Fifth Third Bancorp raised 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 valued at $85,000 after purchasing an additional 328 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction on Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the completion of the sale, the director now owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction on Monday, May 13th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction on Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the transaction, the director now owns 45,279 shares in the company, valued at $2,315,568.06. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OVV shares. Wells Fargo & Company decreased their price objective on Ovintiv from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Bank of America reiterated a “neutral” rating and set a $55.00 price objective on shares of Ovintiv in a research note on Friday, June 14th. Jefferies Financial Group boosted their price objective on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Morgan Stanley boosted their price objective on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Mizuho boosted their price objective on Ovintiv from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $60.33.

Ovintiv Trading Up 0.5 %

NYSE OVV opened at $46.06 on Friday. The stock has a market cap of $12.30 billion, a P/E ratio of 6.43, a price-to-earnings-growth ratio of 7.52 and a beta of 2.63. 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 stock has a 50 day simple moving average of $47.57 and a two-hundred day simple moving average of $47.97. Ovintiv Inc. has a fifty-two week low of $39.68 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, analysts forecast that Ovintiv Inc. will post 5.7 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, June 14th. Ovintiv’s dividend payout ratio (DPR) is presently 16.76%.

About Ovintiv

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.