Ovintiv Inc. (NYSE:OVV) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,790 shares of the company’s stock after selling 303 shares during the period. Signaturefd LLC’s holdings in Ovintiv were worth $825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Xponance Inc. lifted its position in shares of Ovintiv by 0.6% during the third quarter. Xponance Inc. now owns 41,823 shares of the company’s stock worth $1,990,000 after purchasing an additional 240 shares in the last quarter. LPL Financial LLC lifted its holdings in Ovintiv by 0.3% during the 3rd quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock worth $4,265,000 after buying an additional 261 shares in the last quarter. Blue Trust Inc. lifted its holdings in Ovintiv by 20.5% during the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock worth $80,000 after buying an additional 284 shares in the last quarter. Fifth Third Bancorp boosted its position in Ovintiv by 20.3% in the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock valued at $85,000 after buying an additional 328 shares during the period. Finally, Washington Trust Bank grew its stake in shares of Ovintiv by 6.3% in the third quarter. Washington Trust Bank now owns 5,721 shares of the company’s stock worth $272,000 after acquiring an additional 340 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Stock Up 0.4 %

OVV opened at $52.18 on Tuesday. Ovintiv Inc. has a one year low of $32.07 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $14.03 billion, a P/E ratio of 6.61 and a beta of 2.65. The business’s 50-day simple moving average is $50.21 and its 200-day simple moving average is $46.48.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Analysts anticipate that Ovintiv Inc. will post 6.36 EPS for the current year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. Ovintiv’s dividend payout ratio is presently 15.21%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada increased their price objective on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Wells Fargo & Company decreased their price objective on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. Citigroup upped their target price on shares of Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho reaffirmed a “buy” rating and issued a $58.00 target price on shares of Ovintiv in a report on Thursday, April 4th. Finally, Morgan Stanley boosted their price target on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.71.

Insider Activity

In related news, EVP Rachel Maureen Moore sold 9,300 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the transaction, the executive vice president now owns 52,557 shares in the company, valued at approximately $2,662,012.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 23,672 shares in the company, valued at approximately $1,206,325.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.65, for a total transaction of $471,045.00. Following the completion of the sale, the executive vice president now directly owns 52,557 shares in the company, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,564 shares of company stock valued at $4,660,818. Insiders own 0.97% of the company’s stock.

Ovintiv Company Profile

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.