Cambridge Investment Research Advisors Inc. Sells 1,141 Shares of Ovintiv Inc. (NYSE:OVV)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Ovintiv Inc. (NYSE:OVV – Get Rating) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,392 shares of the company’s stock after selling 1,141 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ovintiv were worth $1,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OVV. Miller Wealth Advisors LLC increased its stake in shares of Ovintiv by 48.2% during the 4th quarter. Miller Wealth Advisors LLC now owns 664 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares during the last quarter. Bay Harbor Wealth Management LLC lifted its holdings in shares of Ovintiv by 43.9% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 967 shares of the company’s stock worth $49,000 after acquiring an additional 295 shares during the last quarter. Quent Capital LLC purchased a new position in Ovintiv in the 3rd quarter worth $58,000. CWM LLC raised its position in Ovintiv by 22.9% in the 4th quarter. CWM LLC now owns 1,743 shares of the company’s stock worth $88,000 after purchasing an additional 325 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Ovintiv in the 1st quarter worth $88,000. Institutional investors and hedge funds own 76.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OVV shares. TD Cowen decreased their price objective on shares of Ovintiv from $79.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. BMO Capital Markets downgraded shares of Ovintiv from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $56.00 to $51.00 in a research note on Tuesday, March 7th. Citigroup cut shares of Ovintiv from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $38.00 in a report on Thursday, March 23rd. Wells Fargo & Company decreased their price objective on shares of Ovintiv from $40.00 to $36.00 in a report on Friday, May 12th. Finally, Truist Financial upped their target price on shares of Ovintiv from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.58.

Ovintiv Price Performance

Shares of NYSE OVV opened at $34.52 on Friday. Ovintiv Inc. has a 1-year low of $32.07 and a 1-year high of $63.30. The firm has a market capitalization of $8.44 billion, a PE ratio of 2.02, a P/E/G ratio of 0.20 and a beta of 2.78. The business’s fifty day moving average price is $35.84 and its two-hundred day moving average price is $44.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.53 and a quick ratio of 0.53.

Ovintiv (NYSE:OVV – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.84). The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Ovintiv had a return on equity of 23.98% and a net margin of 33.45%. On average, research analysts expect that Ovintiv Inc. will post 8.28 EPS for the current year.

Ovintiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Wednesday, June 14th. This is a positive change from Ovintiv’s previous quarterly dividend of $0.25. Ovintiv’s dividend payout ratio (DPR) is presently 5.84%.

Insider Transactions at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 3,000 shares of Ovintiv stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $45.62, for a total value of $136,860.00. Following the completion of the transaction, the director now owns 21,403 shares in the company, valued at approximately $976,404.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by insiders.

About Ovintiv

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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.