Ovintiv Inc. (NYSE:OVV – Get Rating) Director Thomas G. Ricks sold 10,000 shares of Ovintiv stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the director now owns 135,500 shares of the company’s stock, valued at approximately $6,775,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of OVV traded down $1.49 during trading on Tuesday, reaching $48.34. The company’s stock had a trading volume of 270,489 shares, compared to its average volume of 4,367,884. The company has a fifty day moving average of $50.74 and a two-hundred day moving average of $42.59. Ovintiv Inc. has a twelve month low of $21.92 and a twelve month high of $57.60. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 10.51 and a beta of 3.17. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Ovintiv’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, June 14th.
Several hedge funds and other institutional investors have recently modified their holdings of OVV. Marshall Wace LLP increased its holdings in shares of Ovintiv by 9,931.2% in the 4th quarter. Marshall Wace LLP now owns 3,939,360 shares of the company’s stock valued at $132,756,000 after acquiring an additional 3,900,089 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Ovintiv by 436.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,284,600 shares of the company’s stock valued at $231,668,000 after acquiring an additional 3,485,198 shares during the last quarter. Third Point LLC bought a new position in Ovintiv during the 1st quarter worth $121,658,000. Miller Value Partners LLC bought a new position in Ovintiv during the 4th quarter worth $73,897,000. Finally, Scout Investments Inc. bought a new position in Ovintiv during the 1st quarter worth $110,474,000. Institutional investors and hedge funds own 76.96% of the company’s stock.
About Ovintiv (Get Rating)
Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.
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