Ovintiv Inc. $OVV Shares Sold by Ellsworth Advisors LLC

Ellsworth Advisors LLC lowered its stake in shares of Ovintiv Inc. (NYSE:OVV) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,650 shares of the company’s stock after selling 12,035 shares during the quarter. Ellsworth Advisors LLC’s holdings in Ovintiv were worth $3,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Ovintiv by 263.8% during the 3rd quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock valued at $199,866,000 after purchasing an additional 3,589,030 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of 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 worth $142,278,000 after buying an additional 2,205,233 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ovintiv by 25.8% during the third quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company’s stock worth $379,165,000 after buying an additional 1,927,193 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of Ovintiv during the third quarter worth $60,866,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Ovintiv during the second quarter valued at $41,701,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Price Performance

NYSE:OVV opened at $57.39 on Thursday. The firm’s fifty day moving average is $50.74 and its two-hundred day moving average is $43.26. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.13 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 one year low of $29.80 and a one year high of $62.60.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. The business had revenue of $1.89 billion during 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 quarter last year, the business posted ($0.23) EPS. Research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

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

Insider Buying and Selling

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the company’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 sale, the executive vice president owned 54,092 shares in the company, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Howard John Mayson sold 5,000 shares of Ovintiv stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the transaction, the director directly owned 45,780 shares of the company’s stock, valued at approximately $2,398,414.20. This trade represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OVV. JPMorgan Chase & Co. initiated coverage on Ovintiv in a research note on Wednesday, February 25th. They issued an “overweight” rating and a $58.00 target price for the company. TD Cowen boosted their price target on Ovintiv from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a report on Monday, December 29th. Scotiabank lifted their target price on Ovintiv from $58.00 to $65.00 and gave the stock a “sector outperform” rating in a report on Thursday, March 19th. Finally, The Goldman Sachs Group upped their target price on Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.67.

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.