Gregory Dean Givens Sells 50,000 Shares of Ovintiv (NYSE:OVV) Stock

Ovintiv Inc. (NYSE:OVV) COO Gregory Dean Givens sold 50,000 shares of Ovintiv stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $42.50, for a total value of $2,125,000.00. Following the transaction, the chief operating officer owned 155,867 shares of the company’s stock, valued at approximately $6,624,347.50. This represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Ovintiv Trading Down 0.9%

Ovintiv stock opened at $41.46 on Wednesday. The firm has a market cap of $10.50 billion, a PE ratio of 45.56, a P/E/G ratio of 1.03 and a beta of 0.77. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $46.35. The stock’s 50 day simple moving average is $38.79 and its two-hundred day simple moving average is $39.72. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.86 billion. Analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.30 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ovintiv’s dividend payout ratio is 131.87%.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of analyst reports. UBS Group raised their target price on Ovintiv from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. lowered their price target on Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a report on Monday. William Blair assumed coverage on Ovintiv in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, National Bankshares decreased their target price on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.83.

Institutional Trading of Ovintiv

Several large investors have recently made changes to their positions in OVV. McIlrath & Eck LLC purchased a new position in Ovintiv in the 3rd quarter valued at $31,000. IFP Advisors Inc lifted its stake in shares of Ovintiv by 316.7% in the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after buying an additional 643 shares in the last quarter. Dogwood Wealth Management LLC acquired a new position in Ovintiv during the second quarter worth about $35,000. HM Payson & Co. purchased a new stake in Ovintiv during the 3rd quarter valued at about $36,000. Finally, Foster Dykema Cabot & Partners LLC purchased a new stake in Ovintiv during the 3rd quarter valued at about $36,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

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.