MQS Management LLC Purchases Shares of 9,405 Ovintiv Inc. $OVV

MQS Management LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,405 shares of the company’s stock, valued at approximately $369,000.

A number of other large investors have also recently bought and sold shares of OVV. AQR Capital Management LLC grew its position in Ovintiv by 263.8% in the third quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock valued at $199,866,000 after acquiring an additional 3,589,030 shares during the period. Dimensional Fund Advisors LP grew its position in Ovintiv by 25.8% in the third 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 period. Qube Research & Technologies Ltd bought a new stake in Ovintiv in the second quarter valued at $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 valued at $30,726,000 after acquiring an additional 709,962 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Ovintiv by 12.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,888,500 shares of the company’s stock valued at $237,747,000 after acquiring an additional 649,819 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

Shares of OVV stock opened at $58.75 on Friday. The stock’s fifty day moving average is $57.89 and its 200-day moving average is $47.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $16.51 billion, a PE ratio of 18.95 and a beta of 0.57. Ovintiv Inc. has a 52 week low of $34.99 and a 52 week high of $63.46.

Ovintiv (NYSE:OVV) last announced its earnings results on Monday, May 11th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.85 by $0.15. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%. Equities research analysts expect that Ovintiv Inc. will post 8.5 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 15th. Ovintiv’s dividend payout ratio is presently 38.71%.

Insider Buying and Selling at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares of the company’s stock, valued at $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard John Mayson sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the transaction, the director directly owned 45,780 shares in the company, valued at $2,398,414.20. This trade represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on OVV. Stephens upgraded Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Citigroup reiterated a “neutral” rating and issued a $62.00 price target (up from $52.00) on shares of Ovintiv in a research report on Monday, March 30th. Weiss Ratings cut Ovintiv from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. TD Cowen upped their price target on Ovintiv from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. started coverage on Ovintiv in a report on Wednesday, February 25th. They set an “overweight” rating and a $58.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.32.

About Ovintiv

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.