Ovintiv Inc. $OVV Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 126.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 31,616 shares of the company’s stock after acquiring an additional 17,685 shares during the quarter. Foster & Motley Inc.’s holdings in Ovintiv were worth $1,239,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Polianta Ltd purchased a new stake in Ovintiv during the 4th quarter valued at about $1,497,000. TrueMark Investments LLC purchased a new position in shares of Ovintiv in the fourth quarter worth about $889,000. Exchange Traded Concepts LLC acquired a new stake in shares of Ovintiv during the fourth quarter worth about $141,000. Capital Investment Advisors LLC lifted its holdings in shares of Ovintiv by 9.6% during the fourth quarter. Capital Investment Advisors LLC now owns 7,338 shares of the company’s stock worth $288,000 after purchasing an additional 642 shares during the period. Finally, Fiduciary Financial Group LLC boosted its position in Ovintiv by 3.2% in the fourth quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company’s stock valued at $371,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 3.3%

Shares of OVV stock opened at $57.39 on Thursday. The stock has a 50 day moving average of $50.74 and a 200 day moving average of $43.26. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $16.26 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.13 and a beta of 0.69. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $62.60.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.39 EPS 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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm posted ($0.23) EPS. As a group, sell-side analysts expect that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, March 13th. Ovintiv’s dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analyst Weigh In

OVV has been the topic of several research reports. UBS Group increased their price target on shares of Ovintiv from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Ovintiv in a report on Saturday, January 17th. JPMorgan Chase & Co. started coverage on shares of Ovintiv in a research note on Wednesday, February 25th. They issued an “overweight” rating and a $58.00 price objective on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.67.

Insider Transactions at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $54.78, for a total value of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares in the company, valued at $2,963,159.76. This trade represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard John Mayson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the transaction, the director owned 45,780 shares in the company, valued at $2,398,414.20. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.70% of the company’s stock.

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.