Kingsview Wealth Management LLC Has $13.53 Million Position in Ovintiv Inc. $OVV

Kingsview Wealth Management LLC boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 36.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 335,041 shares of the company’s stock after acquiring an additional 89,631 shares during the period. Kingsview Wealth Management LLC owned 0.13% of Ovintiv worth $13,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Ovintiv by 17.4% in the third quarter. American Century Companies Inc. now owns 971,144 shares of the company’s stock valued at $39,215,000 after purchasing an additional 144,025 shares during the period. Harvest Portfolios Group Inc. grew its stake in Ovintiv by 1.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 44,135 shares of the company’s stock valued at $1,782,000 after buying an additional 506 shares during the last quarter. US Bancorp DE grew its stake in Ovintiv by 8.2% in the 3rd quarter. US Bancorp DE now owns 12,697 shares of the company’s stock valued at $513,000 after buying an additional 960 shares during the last quarter. Waddell & Associates LLC bought a new position in Ovintiv in the 3rd quarter valued at about $239,000. Finally, Compound Planning Inc. lifted its position in Ovintiv by 23.5% during the third quarter. Compound Planning Inc. now owns 6,587 shares of the company’s stock worth $266,000 after acquiring an additional 1,255 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Stock Up 2.2%

OVV stock opened at $50.52 on Monday. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $51.60. The business has a 50-day simple moving average of $42.88 and a 200 day simple moving average of $40.85. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a market cap of $14.31 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.69.

Ovintiv (NYSE:OVV) last released its earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.98 by $0.41. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. During the same period last year, the firm earned ($0.23) EPS. Sell-side analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th. Ovintiv’s dividend payout ratio (DPR) is 24.79%.

Insider Buying and Selling

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the company’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 sale, the chief operating officer directly owned 105,867 shares in the company, valued at $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on OVV. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Ovintiv in a research note on Thursday, February 19th. Barclays increased their price objective on Ovintiv from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. UBS Group lifted their target price on Ovintiv from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price target on shares of Ovintiv from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.72.

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.