Arete Wealth Advisors LLC Has $312,000 Stock Holdings in Ovintiv Inc. $OVV

Arete Wealth Advisors LLC decreased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 91.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,733 shares of the company’s stock after selling 84,987 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Ovintiv were worth $312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. increased its holdings in shares of Ovintiv by 17.4% during the 3rd quarter. American Century Companies Inc. now owns 971,144 shares of the company’s stock worth $39,215,000 after acquiring an additional 144,025 shares during the last quarter. Harvest Portfolios Group Inc. increased its stake in shares of Ovintiv by 1.2% during the third quarter. Harvest Portfolios Group Inc. now owns 44,135 shares of the company’s stock worth $1,782,000 after purchasing an additional 506 shares during the period. US Bancorp DE lifted its holdings in Ovintiv by 8.2% during the 3rd quarter. US Bancorp DE now owns 12,697 shares of the company’s stock worth $513,000 after purchasing an additional 960 shares during the last quarter. Waddell & Associates LLC bought a new stake in Ovintiv in the 3rd quarter valued at $239,000. Finally, Compound Planning Inc. grew its position in shares of Ovintiv by 23.5% during the 3rd quarter. Compound Planning Inc. now owns 6,587 shares of the company’s stock worth $266,000 after purchasing an additional 1,255 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, COO Gregory Dean Givens sold 50,000 shares of Ovintiv stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the sale, the chief operating officer owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. The trade was a 32.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Ovintiv Trading Down 0.1%

NYSE:OVV opened at $51.72 on Thursday. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $53.21. The firm has a 50-day moving average price of $43.71 and a two-hundred day moving average price of $41.09.

Ovintiv (NYSE:OVV) last issued its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.41. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.During the same period in the previous year, the company posted ($0.23) earnings per share. On average, equities analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. Ovintiv’s dividend payout ratio is currently 24.79%.

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a report on Monday, December 29th. Evercore restated an “outperform” rating and set a $47.00 target price on shares of Ovintiv in a research note on Thursday, November 6th. William Blair initiated coverage on Ovintiv in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 price target on the stock. Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Stephens raised Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.41.

Ovintiv 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.