Manning & Napier Advisors LLC Invests $3.60 Million in Ovintiv Inc. $OVV

Manning & Napier Advisors LLC bought a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 67,754 shares of the company’s stock, valued at approximately $3,605,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Stifel Financial Corp lifted its stake in Ovintiv by 1.4% in the 4th quarter. Stifel Financial Corp now owns 19,113 shares of the company’s stock worth $749,000 after purchasing an additional 269 shares in the last quarter. CX Institutional increased its holdings in shares of Ovintiv by 1.0% in the second quarter. CX Institutional now owns 28,363 shares of the company’s stock worth $1,493,000 after purchasing an additional 276 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Ovintiv by 43.2% in the first quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock worth $54,000 after purchasing an additional 277 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of Ovintiv by 27.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock worth $52,000 after purchasing an additional 287 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Ovintiv by 2.6% in the first quarter. Sanctuary Advisors LLC now owns 13,020 shares of the company’s stock worth $773,000 after buying an additional 324 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OVV has been the subject of several research analyst reports. Weiss Ratings upgraded Ovintiv from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. National Bank Financial increased their target price on Ovintiv from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Wall Street Zen raised shares of Ovintiv from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. UBS Group boosted their price target on shares of Ovintiv from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their price target on shares of Ovintiv from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.89.

Ovintiv Trading Down 1.4%

Shares of OVV stock opened at $65.91 on Tuesday. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $67.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $58.37 and its two-hundred day simple moving average is $56.45. The company has a market cap of $18.16 billion, a PE ratio of 18.62 and a beta of 0.53.

Ovintiv (NYSE:OVV) last announced its earnings results on Thursday, July 23rd. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Ovintiv had a return on equity of 14.84% and a net margin of 9.43%. Research analysts predict that Ovintiv Inc. will post 7.09 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. Ovintiv’s dividend payout ratio (DPR) is currently 33.90%.

Insider Transactions at Ovintiv

In other Ovintiv news, EVP Rachel Maureen Moore sold 7,753 shares of Ovintiv stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the transaction, the executive vice president directly owned 72,530 shares of the company’s stock, valued at $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

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.