Ovintiv Inc. (NYSE:OVV) Shares Bought by Bison Wealth LLC

Bison Wealth LLC raised its stake in Ovintiv Inc. (NYSE:OVV) by 54.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,608 shares of the company’s stock after purchasing an additional 4,448 shares during the period. Bison Wealth LLC’s holdings in Ovintiv were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OVV. Quent Capital LLC raised its position 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 acquiring an additional 351 shares in the last quarter. Loomis Sayles & Co. L P raised its position 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 acquiring an additional 341 shares in the last quarter. Belpointe Asset Management LLC raised its position 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 acquiring an additional 358 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Ovintiv during the 3rd quarter worth about $36,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of Ovintiv during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Ovintiv

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

Ovintiv Stock Down 0.5 %

Ovintiv stock opened at $52.30 on Wednesday. The stock’s 50 day moving average price is $49.42 and its 200 day moving average price is $46.28. The company has a market cap of $14.07 billion, a PE ratio of 6.63 and a beta of 2.65. Ovintiv Inc. has a 1-year low of $32.07 and a 1-year high of $55.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.41. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. On average, sell-side analysts predict that Ovintiv Inc. will post 6.36 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.29%. Ovintiv’s payout ratio is currently 15.21%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OVV. The Goldman Sachs Group raised their target price on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Jefferies Financial Group lifted their price target on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Citigroup lifted their price target on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Scotiabank cut their price target on Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, Barclays assumed coverage on Ovintiv in a research report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.71.

About Ovintiv

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.