Ovintiv Inc. (NYSE:OVV) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its holdings in Ovintiv Inc. (NYSE:OVV) by 60.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,170 shares of the company’s stock after selling 37,375 shares during the period. National Bank of Canada FI’s holdings in Ovintiv were worth $1,064,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC lifted its stake in Ovintiv by 0.3% during the third quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock worth $4,265,000 after purchasing an additional 261 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Ovintiv by 20.5% during the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock worth $80,000 after buying an additional 284 shares during the last quarter. Signaturefd LLC lifted its position in shares of Ovintiv by 1.7% during the 3rd quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock worth $908,000 after buying an additional 317 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Ovintiv by 20.3% in the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock valued at $85,000 after buying an additional 328 shares in the last quarter. Finally, Washington Trust Bank grew its position in shares of Ovintiv by 6.3% in the 3rd quarter. Washington Trust Bank now owns 5,721 shares of the company’s stock valued at $272,000 after buying an additional 340 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction that occurred 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 sale, the director now directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’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 value 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 approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders sold 91,564 shares of company stock worth $4,660,818 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $49.78 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $51.95 and a 200 day moving average price of $46.76. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $55.95. The company has a market cap of $13.29 billion, a P/E ratio of 6.95 and a beta of 2.64.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results 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 firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. Research analysts predict that Ovintiv Inc. will post 6.07 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.41%. Ovintiv’s dividend payout ratio (DPR) is presently 16.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on OVV shares. UBS Group boosted their price target on shares of Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada raised their price target on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Citigroup boosted their price objective on Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Mizuho raised their target price on shares of Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company cut their target price on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.06.

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.