SG Americas Securities LLC Acquires 109,142 Shares of Ovintiv Inc. $OVV

SG Americas Securities LLC boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 466.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,552 shares of the company’s stock after purchasing an additional 109,142 shares during the quarter. SG Americas Securities LLC owned about 0.05% of Ovintiv worth $5,352,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. McIlrath & Eck LLC purchased a new position in shares of Ovintiv in the 3rd quarter worth $31,000. IFP Advisors Inc lifted its holdings in shares of Ovintiv by 316.7% in the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after acquiring an additional 643 shares during the last quarter. Dogwood Wealth Management LLC purchased a new position in Ovintiv in the second quarter worth about $35,000. HM Payson & Co. purchased a new position in Ovintiv in the third quarter worth about $36,000. Finally, MAI Capital Management increased its stake in Ovintiv by 174.6% during the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock worth $45,000 after acquiring an additional 744 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Up 0.0%

Shares of NYSE OVV opened at $38.69 on Friday. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $46.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 1.86 and a beta of 0.76. The business’s 50 day moving average price is $39.19 and its 200-day moving average price is $39.69.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.86 billion. On average, sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, December 15th. Ovintiv’s dividend payout ratio (DPR) is currently 131.87%.

Insider Activity

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.33, for a total value of $2,016,500.00. Following the completion of the sale, the chief operating officer directly owned 105,867 shares in the company, valued at $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OVV shares. National Bankshares lowered their price objective on Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Barclays cut their target price on Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.89.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.