Ovintiv Inc. (NYSE:OVV) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in Ovintiv Inc. (NYSE:OVV) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,706 shares of the company’s stock after acquiring an additional 1,281 shares during the period. First Trust Direct Indexing L.P.’s holdings in Ovintiv were worth $251,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Quent Capital LLC lifted its holdings in shares of Ovintiv by 151.3% in the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after purchasing an additional 351 shares in the last quarter. Loomis Sayles & Co. L P boosted 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 acquiring an additional 341 shares during the period. Quantbot Technologies LP purchased a new position in Ovintiv during the 3rd quarter valued at about $38,000. Pacifica Partners Inc. acquired a new position in shares of Ovintiv in the 4th quarter valued at about $37,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Ovintiv by 42.1% during the third quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock worth $77,000 after purchasing an additional 479 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Up 0.2 %

NYSE OVV opened at $52.51 on Wednesday. The stock has a fifty day moving average of $51.72 and a 200-day moving average of $46.69. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $55.95. The stock has a market capitalization of $14.12 billion, a P/E ratio of 6.66 and a beta of 2.65. 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 (NYSE:OVV) last posted its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.75 billion. On average, equities research analysts forecast that Ovintiv Inc. will post 6.13 EPS for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.29%. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

Analyst Ratings Changes

Several research analysts have weighed in on OVV shares. Jefferies Financial Group increased their target price on shares of Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Scotiabank cut their price target on Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Royal Bank of Canada boosted their price target on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group lifted their price objective on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Finally, National Bankshares cut their target price on Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.71.

Insider Activity at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 value of $303,360.00. Following the completion of the transaction, the director now directly owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction dated 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 directly owns 52,557 shares in the company, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. In the last three months, insiders sold 91,564 shares of company stock worth $4,660,818. 0.97% of the stock is owned by company insiders.

Ovintiv Company 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.