Ovintiv (NYSE:OVV) Sets New 12-Month High at $52.18

Ovintiv Inc. (NYSE:OVVGet Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $52.18 and last traded at $51.80, with a volume of 134619 shares changing hands. The stock had previously closed at $51.90.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OVV. National Bankshares lowered their price objective on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Mizuho decreased their target price on shares of Ovintiv from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Citigroup boosted their target price on shares of Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Scotiabank decreased their target price on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $53.94.

Get Our Latest Stock Report on Ovintiv

Ovintiv Stock Up 0.8 %

The firm’s 50 day moving average is $47.01 and its two-hundred day moving average is $45.76. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 6.66 and a beta of 2.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVVGet Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.75 billion. On average, sell-side analysts predict that Ovintiv Inc. will post 5.79 EPS for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s payout ratio is 15.21%.

Insider Activity at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the transaction, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,564 shares of company stock valued at $4,660,818. 0.97% of the stock is owned by insiders.

Institutional Trading of Ovintiv

A number of institutional investors have recently modified their holdings of OVV. Quent Capital LLC grew its holdings in shares of Ovintiv by 151.3% during the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after purchasing an additional 351 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of Ovintiv by 107.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after purchasing an additional 341 shares during the period. Avalon Trust Co purchased a new stake in shares of Ovintiv during the 4th quarter worth about $34,000. Belpointe Asset Management LLC grew its holdings in shares of Ovintiv by 62.5% during the 1st quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock worth $34,000 after purchasing an additional 358 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Ovintiv during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Company Profile

(Get Free Report)

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

Further Reading

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