SG Americas Securities LLC Trims Stock Position in Ovintiv Inc. $OVV

SG Americas Securities LLC trimmed its holdings in Ovintiv Inc. (NYSE:OVV) by 27.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,687 shares of the company’s stock after selling 35,865 shares during the quarter. SG Americas Securities LLC’s holdings in Ovintiv were worth $3,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its holdings in shares of Ovintiv by 42.1% in the 3rd quarter. Citigroup Inc. now owns 174,090 shares of the company’s stock valued at $7,030,000 after buying an additional 51,562 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Ovintiv by 296.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,012 shares of the company’s stock worth $3,134,000 after acquiring an additional 59,069 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Ovintiv during the third quarter valued at approximately $1,816,000. Moody Aldrich Partners LLC raised its position in Ovintiv by 152.1% during the third quarter. Moody Aldrich Partners LLC now owns 140,423 shares of the company’s stock valued at $5,670,000 after acquiring an additional 84,730 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in Ovintiv by 412.9% in the third quarter. Savant Capital LLC now owns 36,771 shares of the company’s stock valued at $1,485,000 after acquiring an additional 29,602 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of Ovintiv stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $54.78, for a total value of $634,461.96. Following the sale, the executive vice president owned 54,092 shares in the company, valued at $2,963,159.76. This trade represents a 17.64% 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. Also, Director Howard John Mayson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the sale, the director directly owned 45,780 shares of the company’s stock, valued at $2,398,414.20. This represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.70% of the company’s stock.

Ovintiv Stock Up 3.0%

Shares of OVV opened at $59.13 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $62.60. The stock’s 50 day moving average is $51.11 and its two-hundred day moving average is $43.37. The firm has a market cap of $16.75 billion, a P/E ratio of 12.22, a PEG ratio of 2.06 and a beta of 0.59.

Ovintiv (NYSE:OVV) last announced its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company posted ($0.23) EPS. Analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. Ovintiv’s payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

OVV has been the topic of several recent research reports. National Bank Financial upped their price objective on Ovintiv from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Scotiabank lifted their target price on shares of Ovintiv from $58.00 to $65.00 and gave the company a “sector outperform” rating in a report on Thursday, March 19th. The Goldman Sachs Group boosted their target price on shares of Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Roth Mkm increased their price target on shares of Ovintiv from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Truist Financial assumed coverage on shares of Ovintiv in a research report on Tuesday, March 24th. They set a “buy” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.16.

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.