International Assets Investment Management LLC Purchases 12,813 Shares of Ovintiv Inc. (NYSE:OVV)

International Assets Investment Management LLC raised its position in Ovintiv Inc. (NYSE:OVV) by 1,202.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,879 shares of the company’s stock after buying an additional 12,813 shares during the quarter. International Assets Investment Management LLC’s holdings in Ovintiv were worth $610,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Spirit of America Management Corp NY bought a new position in Ovintiv in the 4th quarter valued at about $373,000. Fifth Third Bancorp grew its holdings in shares of Ovintiv by 20.3% during the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock valued at $85,000 after purchasing an additional 328 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Ovintiv by 151.3% during the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after purchasing an additional 351 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Ovintiv by 20.5% during the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock valued at $80,000 after purchasing an additional 284 shares during the last quarter. Finally, Viking Fund Management LLC bought a new stake in shares of Ovintiv during the 4th quarter valued at approximately $2,635,000. 83.81% of the stock is owned by institutional investors.

Ovintiv Stock Up 0.2 %

Shares of NYSE OVV opened at $52.90 on Thursday. The company has a market capitalization of $14.23 billion, a P/E ratio of 6.70 and a beta of 2.65. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. The company’s 50 day moving average price is $50.64 and its 200-day moving average price is $46.58.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Equities analysts forecast that Ovintiv Inc. will post 6.36 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 dividend yield of 2.27%. Ovintiv’s payout ratio is presently 15.21%.

Insider Activity at Ovintiv

In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the business’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 transaction, the executive vice president now owns 23,672 shares in the company, valued at approximately $1,206,325.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.65, for a total value of $471,045.00. Following the completion of the sale, the executive vice president now owns 52,557 shares in the company, valued at approximately $2,662,012.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’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 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 have sold 91,564 shares of company stock worth $4,660,818 in the last quarter. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group lifted their price target on shares of Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, April 12th. Scotiabank decreased their price target on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Barclays started coverage on shares of Ovintiv in a report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

About Ovintiv

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.