Robeco Institutional Asset Management B.V. Reduces Position in Ovintiv Inc. $OVV

Robeco Institutional Asset Management B.V. decreased its holdings in Ovintiv Inc. (NYSE:OVV) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 790,602 shares of the company’s stock after selling 71,849 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.31% of Ovintiv worth $31,925,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OVV. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Ovintiv by 143.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,739,237 shares of the company’s stock worth $142,278,000 after purchasing an additional 2,205,233 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Ovintiv in the 2nd quarter worth $41,701,000. Orion Porfolio Solutions LLC boosted its holdings in shares of Ovintiv by 1,599.3% in the second quarter. Orion Porfolio Solutions LLC now owns 651,038 shares of the company’s stock valued at $24,772,000 after acquiring an additional 612,725 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Ovintiv by 116.3% during the second quarter. Panagora Asset Management Inc. now owns 927,525 shares of the company’s stock worth $35,292,000 after acquiring an additional 498,661 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Ovintiv by 7.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,238,681 shares of the company’s stock worth $199,441,000 after purchasing an additional 368,249 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the transaction, the chief operating officer owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OVV has been the topic of several recent analyst reports. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Morgan Stanley cut their price objective on Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. William Blair began coverage on Ovintiv in a report on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 target price for the company. Barclays cut their price target on shares of Ovintiv from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada set a $55.00 price objective on shares of Ovintiv and gave the company an “outperform” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Ovintiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.89.

Ovintiv Trading Down 2.0%

Shares of OVV stock opened at $36.99 on Thursday. The stock has a market cap of $9.37 billion, a P/E ratio of 40.65, a P/E/G ratio of 1.81 and a beta of 0.76. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.43. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $46.35. The business has a fifty day simple moving average of $39.13 and a 200-day simple moving average of $39.69.

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 company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. On average, analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Ovintiv’s dividend payout ratio is presently 131.87%.

Ovintiv Company 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.