Pacer Advisors Inc. Has $2.24 Million Stake in Ovintiv Inc. (NYSE:OVV)

Pacer Advisors Inc. decreased its position in Ovintiv Inc. (NYSE:OVVFree Report) by 98.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 51,086 shares of the company’s stock after selling 2,567,776 shares during the period. Pacer Advisors Inc.’s holdings in Ovintiv were worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of Ovintiv by 35.3% in the first quarter. Raymond James & Associates now owns 57,458 shares of the company’s stock valued at $3,107,000 after buying an additional 14,978 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ovintiv in the first quarter valued at approximately $525,000. HighTower Advisors LLC bought a new stake in shares of Ovintiv in the first quarter valued at approximately $715,000. Cetera Advisor Networks LLC bought a new stake in shares of Ovintiv in the first quarter valued at approximately $224,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Ovintiv by 45.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,605 shares of the company’s stock valued at $843,000 after buying an additional 4,895 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

NYSE OVV opened at $51.90 on Friday. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 6.58 and a beta of 2.66. Ovintiv Inc. has a twelve month low of $32.07 and a twelve month high of $52.09. The stock has a fifty day simple moving average of $46.58 and a 200 day simple moving average of $45.71. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVVGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. Sell-side analysts expect that Ovintiv Inc. will post 5.95 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.31%. Ovintiv’s payout ratio is 15.21%.

Insider Activity at Ovintiv

In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the completion of the sale, the executive vice president now directly owns 23,672 shares in the company, valued at $1,206,325.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the completion of the sale, the executive vice president now directly owns 23,672 shares in the company, valued at approximately $1,206,325.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rachel Maureen Moore sold 9,300 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the sale, the executive vice president now owns 52,557 shares of the company’s stock, valued at $2,662,012.05. The disclosure for this sale can be found here. Insiders sold 91,564 shares of company stock worth $4,660,818 over the last three months. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OVV. National Bankshares cut their price target on Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Royal Bank of Canada upped their target price on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Scotiabank cut their target price on Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. UBS Group cut their target price on Ovintiv from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Finally, JPMorgan Chase & Co. upgraded Ovintiv from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $61.00 to $58.00 in a research note on Wednesday, December 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.94.

Read Our Latest Report on Ovintiv

Ovintiv Profile

(Free Report)

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its 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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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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