Ovintiv Inc. (NYSE:OVV) Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC grew its position in Ovintiv Inc. (NYSE:OVVFree Report) by 12.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,629 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Neuberger Berman Group LLC’s holdings in Ovintiv were worth $642,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 10.1% during the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after purchasing an additional 2,484,554 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Ovintiv during the fourth quarter worth $67,149,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Ovintiv by 2,602.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock worth $31,410,000 after purchasing an additional 688,690 shares during the period. FMR LLC lifted its holdings in shares of Ovintiv by 2.3% during the third quarter. FMR LLC now owns 22,877,626 shares of the company’s stock worth $1,088,289,000 after purchasing an additional 507,562 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Ovintiv during the third quarter worth $18,097,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OVV has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their target price on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group raised their target price on Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Morgan Stanley raised their target price on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Barclays assumed coverage on Ovintiv in a report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 target price for the company. Finally, Mizuho raised their price target on Ovintiv from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.06.

Read Our Latest Research Report on Ovintiv

Insider Buying and Selling at Ovintiv

In other Ovintiv news, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction dated 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 sale, the director now owns 8,929 shares in the company, valued at approximately $446,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 transaction, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction dated Monday, May 13th. The shares were 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. Insiders sold 92,264 shares of company stock worth $4,690,973 in the last 90 days. 0.97% of the stock is owned by company insiders.

Ovintiv Trading Up 1.8 %

Ovintiv stock opened at $48.51 on Tuesday. The stock has a market cap of $12.95 billion, a PE ratio of 6.78 and a beta of 2.58. The stock has a 50-day moving average price of $51.21 and a 200 day moving average price of $47.19. Ovintiv Inc. has a 52 week low of $34.50 and a 52 week high of $55.95. 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 (NYSE:OVVGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. Equities research analysts predict that Ovintiv Inc. will post 6.15 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, June 14th. Ovintiv’s dividend payout ratio (DPR) is 16.76%.

Ovintiv Company 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.

See Also

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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