Ovintiv Inc. $OVV Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,795 shares of the company’s stock after selling 4,648 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Ovintiv were worth $677,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. IFP Advisors Inc lifted its stake in shares of Ovintiv by 316.7% in the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after purchasing an additional 643 shares during the period. Dogwood Wealth Management LLC acquired a new stake in shares of Ovintiv in the second quarter worth approximately $35,000. Harbour Investments Inc. raised its position in shares of Ovintiv by 143.8% in the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock valued at $39,000 after buying an additional 542 shares during the last quarter. Gen Wealth Partners Inc lifted its stake in Ovintiv by 91.8% in the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock worth $43,000 after purchasing an additional 484 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in Ovintiv during the first quarter worth $48,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on OVV shares. National Bankshares cut their price target on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research report on Monday, November 24th. Citigroup dropped their target price on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Finally, Evercore ISI reiterated an “outperform” rating and set a $47.00 price target on shares of Ovintiv in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.83.

Ovintiv Price Performance

OVV stock opened at $40.87 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.89 and a beta of 1.00. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $46.35. The firm has a 50 day moving average of $38.80 and a 200-day moving average of $39.46.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. As a group, equities analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 15th. Ovintiv’s payout ratio is 131.87%.

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.