Ovintiv Inc. (NYSE:OVV) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Ovintiv Inc. (NYSE:OVVGet Rating) by 21.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 674,177 shares of the company’s stock after selling 181,224 shares during the quarter. Victory Capital Management Inc. owned 0.27% of Ovintiv worth $31,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bay Harbor Wealth Management LLC purchased a new position in Ovintiv during the 2nd quarter valued at about $29,000. Ronald Blue Trust Inc. acquired a new position in shares of Ovintiv in the second quarter worth $31,000. Rosenberg Matthew Hamilton increased its stake in Ovintiv by 114.3% in the second quarter. Rosenberg Matthew Hamilton now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 400 shares during the last quarter. CWM LLC boosted its position in shares of Ovintiv by 20.1% in the second quarter. CWM LLC now owns 1,460 shares of the company’s stock worth $65,000 after buying an additional 244 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new position in Ovintiv in the second quarter valued at about $69,000. 76.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ovintiv

In other news, Director Howard John Mayson sold 2,600 shares of Ovintiv 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 transaction, the director now owns 24,403 shares in the company, valued at $1,371,692.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Howard John Mayson sold 2,600 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $56.21, for a total value of $146,146.00. Following the sale, the director now directly owns 24,403 shares of the company’s stock, valued at approximately $1,371,692.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Renee Ellen Zemljak sold 610 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $55.12, for a total transaction of $33,623.20. Following the completion of the sale, the executive vice president now owns 71,814 shares of the company’s stock, valued at $3,958,387.68. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OVV. Siebert Williams Shank began coverage on Ovintiv in a research note on Friday, December 9th. They set a “buy” rating and a $75.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Ovintiv from $78.00 to $69.00 in a research note on Wednesday, October 19th. The Goldman Sachs Group increased their price target on Ovintiv from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 19th. TheStreet lowered Ovintiv from a “b-” rating to a “c” rating in a research note on Tuesday, November 8th. Finally, Barclays lowered their price objective on Ovintiv from $69.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Ovintiv Stock Performance

Shares of NYSE:OVV opened at $50.17 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.49. Ovintiv Inc. has a 52-week low of $34.41 and a 52-week high of $63.30. The company has a 50 day moving average of $51.40 and a two-hundred day moving average of $50.17.

Ovintiv (NYSE:OVVGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.54). The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $2.52 billion. Ovintiv had a net margin of 29.27% and a return on equity of 53.16%. Sell-side analysts predict that Ovintiv Inc. will post 8.27 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared 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 annualized dividend 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.

Featured Stories

Want to see what other hedge funds are holding OVV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ovintiv Inc. (NYSE:OVVGet Rating).

Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.