CWA Asset Management Group LLC Has $1.16 Million Stock Holdings in Ovintiv Inc. $OVV

CWA Asset Management Group LLC grew its position in Ovintiv Inc. (NYSE:OVV) by 210.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,793 shares of the company’s stock after buying an additional 19,511 shares during the period. CWA Asset Management Group LLC’s holdings in Ovintiv were worth $1,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burney Co. boosted its holdings in Ovintiv by 690.5% during the second quarter. Burney Co. now owns 67,091 shares of the company’s stock worth $2,553,000 after buying an additional 58,604 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ovintiv by 11.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 241,568 shares of the company’s stock valued at $9,192,000 after acquiring an additional 23,968 shares during the period. Lifestyle Asset Management Inc. boosted its stake in Ovintiv by 46.8% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company’s stock worth $1,072,000 after acquiring an additional 8,987 shares during the last quarter. Moody Aldrich Partners LLC boosted its stake in Ovintiv by 152.1% during the 3rd quarter. Moody Aldrich Partners LLC now owns 140,423 shares of the company’s stock worth $5,670,000 after acquiring an additional 84,730 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in Ovintiv by 303.9% during the first quarter. Inspire Investing LLC now owns 25,731 shares of the company’s stock valued at $1,101,000 after purchasing an additional 19,361 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $37.78 on Wednesday. The company has a fifty day moving average price of $39.13 and a 200 day moving average price of $39.71. The firm has a market cap of $9.57 billion, a PE ratio of 41.52, a PEG ratio of 1.86 and a beta of 0.76. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $46.35.

Ovintiv (NYSE:OVV) last issued its quarterly 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 company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%. Research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Ovintiv’s dividend payout ratio is 131.87%.

Insider Buying and Selling at Ovintiv

In other news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,867 shares of the company’s stock, valued at $4,269,616.11. This trade represents a 32.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on OVV. Roth Capital started coverage on shares of Ovintiv in a report on Monday, October 13th. They issued a “neutral” rating and a $42.00 target price on the stock. National Bankshares dropped their price objective on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ovintiv in a report on Monday, December 29th. Mizuho lowered their price target on Ovintiv from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Wells Fargo & Company lifted their price objective on Ovintiv from $38.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.89.

Ovintiv Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.