Kestra Advisory Services LLC boosted its position in Ovintiv Inc. (NYSE:OVV – Get Rating) by 19.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,819 shares of the company’s stock after purchasing an additional 1,466 shares during the period. Kestra Advisory Services LLC’s holdings in Ovintiv were worth $477,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of OVV. UMB Bank N A MO acquired a new stake in shares of Ovintiv in the fourth quarter valued at approximately $39,000. CWM LLC increased its holdings in shares of Ovintiv by 211.8% in the first quarter. CWM LLC now owns 1,216 shares of the company’s stock valued at $66,000 after purchasing an additional 826 shares during the last quarter. Tobam bought a new position in shares of Ovintiv in the first quarter valued at about $77,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Ovintiv by 58.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,382 shares of the company’s stock worth $80,000 after buying an additional 882 shares during the last quarter. Finally, Private Capital Group LLC boosted its holdings in shares of Ovintiv by 10.2% during the 1st quarter. Private Capital Group LLC now owns 2,907 shares of the company’s stock worth $157,000 after buying an additional 270 shares during the period. Institutional investors own 76.96% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on Ovintiv from $46.00 to $64.00 in a report on Tuesday, April 26th. JPMorgan Chase & Co. lifted their target price on Ovintiv from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $65.00 to $60.00 in a research report on Tuesday. National Bankshares dropped their price target on shares of Ovintiv from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Truist Financial increased their price target on Ovintiv from $72.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.56.
Ovintiv Stock Performance
Ovintiv (NYSE:OVV – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.37). Ovintiv had a return on equity of 60.01% and a net margin of 9.86%. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.42 billion. On average, equities analysts expect that Ovintiv Inc. will post 9.19 EPS for the current fiscal year.
Ovintiv Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. This is an increase from Ovintiv’s previous quarterly dividend of $0.20.
Insider Buying and Selling
In other news, Director Thomas G. Ricks sold 19,231 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $59.50, for a total transaction of $1,144,244.50. Following the completion of the transaction, the director now owns 116,269 shares of the company’s stock, valued at $6,918,005.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Thomas G. Ricks sold 19,231 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $59.50, for a total value of $1,144,244.50. Following the completion of the sale, the director now directly owns 116,269 shares in the company, valued at $6,918,005.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas G. Ricks sold 10,000 shares of Ovintiv stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the transaction, the director now directly owns 135,500 shares in the company, valued at $6,775,000. The disclosure for this sale can be found here. Insiders have sold a total of 29,785 shares of company stock worth $1,676,509 in the last ninety days. Company insiders own 1.70% of the company’s stock.
Ovintiv Company Profile
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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