11,708 Shares in Ovintiv Inc. $OVV Bought by AXQ Capital LP

AXQ Capital LP purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,708 shares of the company’s stock, valued at approximately $459,000.

Several other institutional investors have also bought and sold shares of OVV. AQR Capital Management LLC grew its stake in shares of Ovintiv by 263.8% in the 3rd quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock worth $199,866,000 after buying an additional 3,589,030 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ovintiv by 25.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company’s stock valued at $379,165,000 after acquiring an additional 1,927,193 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Ovintiv in the 2nd quarter valued at about $41,701,000. Two Sigma Investments LP grew its position in Ovintiv by 1,393.1% in the third quarter. Two Sigma Investments LP now owns 760,924 shares of the company’s stock worth $30,726,000 after acquiring an additional 709,962 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Ovintiv by 12.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,888,500 shares of the company’s stock worth $237,747,000 after acquiring an additional 649,819 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the topic of a number of recent research reports. Weiss Ratings downgraded Ovintiv from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. UBS Group cut their target price on Ovintiv from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Mizuho increased their price target on Ovintiv from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Roth Mkm raised their price target on Ovintiv from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Barclays lifted their price objective on shares of Ovintiv from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Insider Buying and Selling

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $54.78, for a total value of $634,461.96. Following the transaction, the executive vice president directly owned 54,092 shares in the company, valued at $2,963,159.76. This represents a 17.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by corporate insiders.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $59.34 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $58.11 and its two-hundred day moving average is $49.00. Ovintiv Inc. has a 52 week low of $35.47 and a 52 week high of $63.46. The company has a market capitalization of $16.68 billion, a PE ratio of 19.14 and a beta of 0.53.

Ovintiv (NYSE:OVV) last issued its earnings results on Monday, May 11th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.15. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Ovintiv had a net margin of 8.51% and a return on equity of 13.14%. As a group, analysts expect that Ovintiv Inc. will post 8.15 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th. Ovintiv’s payout ratio is 38.71%.

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.