Mackenzie Financial Corp Has $6.44 Million Position in Ovintiv Inc. (NYSE:OVV)

Mackenzie Financial Corp increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 2.5% during the fourth quarter, Holdings Channel reports. The fund owned 146,518 shares of the company’s stock after acquiring an additional 3,618 shares during the quarter. Mackenzie Financial Corp’s holdings in Ovintiv were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OVV. Quent Capital LLC increased its position 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 position 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. Penserra Capital Management LLC bought a new position in Ovintiv during the 3rd quarter worth $36,000. Quantbot Technologies LP bought a new position in Ovintiv during the 3rd quarter worth $38,000. Finally, ICA Group Wealth Management LLC bought a new position in Ovintiv during the 4th quarter worth $41,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OVV has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group lifted their price target on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Wells Fargo & Company cut their price target on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Citigroup lifted their price objective on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Scotiabank cut their price objective on Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

Insider Activity

In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction that occurred on 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 owns 23,672 shares in the company, valued at $1,206,325.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the completion of the sale, the executive vice president now owns 52,557 shares in the company, valued at $2,662,012.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total value of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders sold a total of 91,564 shares of company stock worth $4,660,818 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Ovintiv Trading Up 0.9 %

Shares of OVV stock opened at $51.98 on Friday. The company has a market cap of $13.98 billion, a P/E ratio of 6.59 and a beta of 2.65. The stock has a 50 day simple moving average of $50.02 and a two-hundred day simple moving average of $46.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last issued its 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 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%. Research analysts forecast that Ovintiv Inc. will post 6.36 earnings per share for the current year.

Ovintiv Announces Dividend

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

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.