United Capital Financial Advisors LLC Buys New Position in Ovintiv Inc. $OVV

United Capital Financial Advisors LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,897 shares of the company’s stock, valued at approximately $521,000.

Other hedge funds have also recently bought and sold shares of the company. Steph & Co. purchased a new stake in Ovintiv in the 1st quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Ovintiv in the 2nd quarter worth approximately $32,000. Aberdeen Wealth Management LLC bought a new position in shares of Ovintiv in the second quarter valued at approximately $32,000. Los Angeles Capital Management LLC bought a new position in shares of Ovintiv in the fourth quarter valued at approximately $46,000. Finally, Deseret Mutual Benefit Administrators increased its position in shares of Ovintiv by 27.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock valued at $52,000 after acquiring an additional 287 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OVV. Zacks Research cut Ovintiv from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Citigroup raised their target price on Ovintiv from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Texas Capital raised shares of Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Stephens restated a “positive” rating and set a $69.00 price target on shares of Ovintiv in a research report on Friday, July 24th. Finally, Barclays raised their price objective on shares of Ovintiv from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.89.

Ovintiv Stock Performance

Shares of OVV opened at $65.75 on Tuesday. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $67.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $59.54 and its two-hundred day moving average price is $57.11. The firm has a market cap of $18.11 billion, a PE ratio of 18.57 and a beta of 0.53.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.20). Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.37 billion. On average, equities research analysts forecast that Ovintiv Inc. will post 7.09 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.20 annualized dividend and a yield of 1.8%. Ovintiv’s dividend payout ratio is 33.90%.

Insiders Place Their Bets

In other Ovintiv news, EVP Rachel Maureen Moore sold 7,753 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the transaction, the executive vice president owned 72,530 shares in the company, valued at $4,592,599.60. This trade represents a 9.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by corporate insiders.

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.