Insider Selling: Ovintiv (NYSE:OVV) COO Sells 50,000 Shares of Stock

Ovintiv Inc. (NYSE:OVV) COO Gregory Dean Givens sold 50,000 shares of Ovintiv stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.33, for a total value of $2,016,500.00. Following the transaction, the chief operating officer directly owned 105,867 shares in the company, valued at approximately $4,269,616.11. This trade represents a 32.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gregory Dean Givens also recently made the following trade(s):

• On Thursday, December 4th, Gregory Dean Givens sold 50,000 shares of Ovintiv stock. The shares were sold at an average price of $42.50, for a total transaction of $2,125,000.00.

Ovintiv Stock Performance

OVV traded down $1.15 on Monday, hitting $39.20. 3,669,202 shares of the stock traded hands, compared to its average volume of 3,438,922. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $46.35. The business has a fifty day moving average price of $38.84 and a two-hundred day moving average price of $39.81. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $9.93 billion, a PE ratio of 43.07, a P/E/G ratio of 0.99 and a beta of 0.77.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. On average, research analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. Ovintiv’s dividend payout ratio (DPR) is presently 131.87%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Ovintiv by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company’s stock valued at $599,000 after buying an additional 340 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Ovintiv by 43.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,154 shares of the company’s stock worth $49,000 after acquiring an additional 349 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in Ovintiv by 0.6% in the third quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company’s stock valued at $2,560,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Ovintiv by 3.8% in the 2nd quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock worth $438,000 after acquiring an additional 427 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Ovintiv by 5.2% in the third quarter. Forum Financial Management LP now owns 9,402 shares of the company’s stock worth $380,000 after acquiring an additional 464 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. William Blair began coverage on shares of Ovintiv in a report on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 price target on the stock. UBS Group boosted their target price on shares of Ovintiv from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ovintiv in a research note on Monday, December 8th. National Bankshares dropped their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada set a $55.00 price objective on Ovintiv and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and an average target price of $51.89.

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.