DekaBank Deutsche Girozentrale Grows Holdings in Ovintiv Inc. (NYSE:OVV)

DekaBank Deutsche Girozentrale increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 290.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 79,845 shares of the company’s stock after purchasing an additional 59,379 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Ovintiv were worth $3,503,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OVV. Quent Capital LLC increased its stake in Ovintiv by 151.3% during the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after buying an additional 351 shares during the period. Loomis Sayles & Co. L P increased its stake in Ovintiv by 107.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after buying an additional 341 shares during the period. Belpointe Asset Management LLC increased its stake in Ovintiv by 62.5% during the 1st quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock worth $34,000 after buying an additional 358 shares during the period. Penserra Capital Management LLC purchased a new stake in Ovintiv during the 3rd quarter worth approximately $36,000. Finally, Pacifica Partners Inc. purchased a new stake in Ovintiv during the 4th quarter worth approximately $37,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Stock Down 2.0 %

Shares of NYSE:OVV opened at $53.76 on Friday. The stock has a market cap of $14.46 billion, a P/E ratio of 6.81 and a beta of 2.65. The firm has a fifty day moving average price of $48.98 and a 200 day moving average price of $46.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. Ovintiv Inc. has a 1-year low of $32.07 and a 1-year high of $55.95.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. Sell-side analysts predict that Ovintiv Inc. will post 6.25 EPS for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. 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 2.23%. Ovintiv’s payout ratio is currently 15.21%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OVV. Citigroup upped their target price on shares of Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. UBS Group boosted their price target on shares of Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho reiterated a “buy” rating and set a $58.00 price target on shares of Ovintiv in a report on Thursday, April 4th. The Goldman Sachs Group boosted their price target on shares of Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Finally, Barclays initiated coverage on shares of Ovintiv in a report on Wednesday. They set an “overweight” rating and a $69.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and a consensus price target of $56.47.

Insiders Place Their Bets

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares in the company, valued at approximately $1,862,630.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the completion of the transaction, the executive vice president now owns 23,672 shares in the company, valued at approximately $1,206,325.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the transaction, the director now owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,564 shares of company stock worth $4,660,818. 1.70% of the stock is owned by insiders.

Ovintiv Profile

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.