42,860 Shares in Ovintiv Inc. $OVV Purchased by JCIC Asset Management Inc.

JCIC Asset Management Inc. acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 42,860 shares of the company’s stock, valued at approximately $1,731,000.

Other large investors have also bought and sold shares of the company. McIlrath & Eck LLC bought a new stake in shares of Ovintiv during the third quarter valued at approximately $31,000. IFP Advisors Inc boosted its stake in Ovintiv by 316.7% during 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 last quarter. Dogwood Wealth Management LLC bought a new stake in shares of Ovintiv in the 2nd quarter worth $35,000. HM Payson & Co. purchased a new position in shares of Ovintiv in the third quarter worth $36,000. Finally, Quent Capital LLC bought a new position in shares of Ovintiv during the third quarter valued at $37,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on OVV shares. Royal Bank Of Canada set a $55.00 price objective on Ovintiv and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Roth Capital assumed coverage on shares of Ovintiv in a report on Monday, October 13th. They set a “neutral” rating and a $42.00 price objective for the company. National Bankshares lowered their price objective on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $54.00 target price on shares of Ovintiv in a research report on Saturday. Finally, Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.41.

Insider Activity at Ovintiv

In other news, COO Gregory Dean Givens sold 50,000 shares of Ovintiv stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the transaction, the chief operating officer directly owned 105,867 shares of the company’s stock, valued at $4,269,616.11. The trade was a 32.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Ovintiv Stock Down 0.6%

Shares of OVV stock opened at $39.71 on Monday. 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 12 month low of $29.80 and a 12 month high of $46.35. The stock has a market cap of $10.06 billion, a P/E ratio of 43.64, a P/E/G ratio of 2.13 and a beta of 0.76. The company has a 50 day simple moving average of $39.40 and a two-hundred day simple moving average of $39.73.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. On average, research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. Ovintiv’s dividend payout ratio (DPR) is 131.87%.

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.