SG Americas Securities LLC Invests $749,000 in Ovintiv Inc. (NYSE:OVV)

SG Americas Securities LLC bought a new position in shares of Ovintiv Inc. (NYSE:OVV – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 16,285 shares of the company’s stock, valued at approximately $749,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Redwood Investments LLC bought a new position in shares of Ovintiv during the 3rd quarter worth approximately $241,000. Comerica Bank boosted its stake in shares of Ovintiv by 47.6% during the 3rd quarter. Comerica Bank now owns 206,637 shares of the company’s stock worth $10,270,000 after acquiring an additional 66,599 shares during the period. Measured Wealth Private Client Group LLC boosted its stake in Ovintiv by 4.6% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 6,818 shares of the company’s stock valued at $314,000 after purchasing an additional 298 shares during the period. Montgomery Investment Management Inc. boosted its stake in Ovintiv by 23.6% in the 3rd quarter. Montgomery Investment Management Inc. now owns 28,634 shares of the company’s stock valued at $1,317,000 after purchasing an additional 5,460 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its stake in Ovintiv by 15.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 172,340 shares of the company’s stock valued at $7,928,000 after purchasing an additional 23,656 shares during the period. 76.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ovintiv news, EVP Renee Ellen Zemljak sold 610 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $55.12, for a total value of $33,623.20. Following the completion of the transaction, the executive vice president now owns 71,814 shares of the company’s stock, valued at approximately $3,958,387.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ovintiv news, Director Howard John Mayson sold 2,600 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $56.21, for a total value of $146,146.00. Following the completion of the transaction, the director now owns 24,403 shares of the company’s stock, valued at approximately $1,371,692.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Renee Ellen Zemljak sold 610 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $55.12, for a total value of $33,623.20. Following the completion of the sale, the executive vice president now owns 71,814 shares in the company, valued at approximately $3,958,387.68. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

OVV has been the subject of several recent research reports. Cowen boosted their price target on Ovintiv to $79.00 in a research note on Tuesday, November 15th. Mizuho restated a “buy” rating and issued a $68.00 price target (up from $61.00) on shares of Ovintiv in a research note on Tuesday, January 10th. Jefferies Financial Group initiated coverage on Ovintiv in a research note on Wednesday, October 19th. They issued a “buy” rating and a $75.00 price target for the company. Morgan Stanley reduced their price target on Ovintiv from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, December 14th. Finally, Royal Bank of Canada lifted their price objective on Ovintiv from $57.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, November 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Ovintiv Trading Up 1.5 %

Ovintiv stock opened at $50.17 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.51 and a quick ratio of 0.51. Ovintiv Inc. has a 52 week low of $34.41 and a 52 week high of $63.30. The stock has a fifty day moving average of $51.55 and a 200-day moving average of $49.97.

Ovintiv (NYSE:OVV – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.54). Ovintiv had a return on equity of 53.16% and a net margin of 29.27%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $2.52 billion. Equities research analysts forecast that Ovintiv Inc. will post 8.46 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%.

Ovintiv Company Profile

(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.