Fisher Asset Management LLC Has $18.71 Million Holdings in Ovintiv Inc. $OVV

Fisher Asset Management LLC lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 463,441 shares of the company’s stock after selling 35,451 shares during the period. Fisher Asset Management LLC’s holdings in Ovintiv were worth $18,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of OVV. Adage Capital Partners GP L.L.C. raised its stake in Ovintiv by 143.8% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,739,237 shares of the company’s stock valued at $142,278,000 after purchasing an additional 2,205,233 shares in the last quarter. Evergreen Capital Management LLC bought a new position in Ovintiv in the 3rd quarter valued at about $60,866,000. Qube Research & Technologies Ltd acquired a new position in shares of Ovintiv in the 2nd quarter valued at approximately $41,701,000. Orion Porfolio Solutions LLC raised its position in shares of Ovintiv by 1,599.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 651,038 shares of the company’s stock valued at $24,772,000 after buying an additional 612,725 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Ovintiv by 116.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 927,525 shares of the company’s stock worth $35,292,000 after acquiring an additional 498,661 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OVV has been the subject of several recent analyst reports. Barclays upped their target price on Ovintiv from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Zacks Research lowered Ovintiv from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Roth Mkm lifted their target price on Ovintiv from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wells Fargo & Company increased their target price on shares of Ovintiv from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Ovintiv in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and an average price target of $52.41.

Ovintiv Stock Down 0.1%

Ovintiv stock 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 PEG ratio of 2.80 and a beta of 0.69. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $53.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. 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 posted its quarterly earnings data on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted ($0.23) EPS. Equities analysts predict that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

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

Insider Buying and Selling at Ovintiv

In related news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. This trade represents a 32.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

About Ovintiv

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.