GW&K Investment Management LLC Reduces Stock Position in Ovintiv Inc. $OVV

GW&K Investment Management LLC lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 747,647 shares of the company’s stock after selling 36,307 shares during the quarter. GW&K Investment Management LLC owned approximately 0.30% of Ovintiv worth $29,300,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OVV. Los Angeles Capital Management LLC purchased a new stake in shares of Ovintiv during the 4th quarter worth approximately $46,000. Prudential PLC lifted its position in shares of Ovintiv by 125.7% during the 4th quarter. Prudential PLC now owns 78,896 shares of the company’s stock worth $3,092,000 after buying an additional 43,945 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of Ovintiv by 27.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock worth $52,000 after buying an additional 287 shares during the last quarter. Vise Technologies Inc. lifted its position in shares of Ovintiv by 67.1% during the 4th quarter. Vise Technologies Inc. now owns 9,110 shares of the company’s stock worth $357,000 after buying an additional 3,658 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Ovintiv by 23.3% during the 4th quarter. Cibc World Market Inc. now owns 87,402 shares of the company’s stock worth $3,425,000 after buying an additional 16,513 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OVV. Scotiabank upgraded shares of Ovintiv from an “outperform” rating to a “buy” rating in a research report on Wednesday, May 20th. Roth Mkm boosted their price objective on shares of Ovintiv from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Weiss Ratings downgraded shares of Ovintiv from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Truist Financial dropped their price target on Ovintiv from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Mizuho raised their price target on Ovintiv from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insiders Place Their Bets

In related news, EVP Meghan Nicole Eilers sold 11,582 shares of Ovintiv stock in a transaction on 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 trade represents a 17.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Ovintiv Stock Performance

NYSE:OVV opened at $58.04 on Thursday. The firm’s fifty day moving average price is $57.82 and its 200 day moving average price is $49.66. Ovintiv Inc. has a 1-year low of $35.47 and a 1-year high of $63.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 18.72 and a beta of 0.53.

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

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, June 15th. Ovintiv’s dividend payout ratio (DPR) is 38.71%.

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.