Arete Wealth Advisors LLC Has $312,000 Stock Holdings in Ovintiv Inc. $OVV

Arete Wealth Advisors LLC trimmed its position in Ovintiv Inc. (NYSE:OVV) by 91.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,733 shares of the company’s stock after selling 84,987 shares during the period. Arete Wealth Advisors LLC’s holdings in Ovintiv were worth $312,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in OVV. PNC Financial Services Group Inc. boosted its holdings in Ovintiv by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company’s stock valued at $599,000 after acquiring an additional 340 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in Ovintiv by 0.6% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company’s stock valued at $2,560,000 after purchasing an additional 400 shares during the period. ProShare Advisors LLC boosted its stake in shares of Ovintiv by 3.8% in the 2nd quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $438,000 after purchasing an additional 427 shares during the last quarter. Forum Financial Management LP grew its position in shares of Ovintiv by 5.2% during the 3rd quarter. Forum Financial Management LP now owns 9,402 shares of the company’s stock worth $380,000 after buying an additional 464 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in Ovintiv by 0.9% in the third quarter. Illinois Municipal Retirement Fund now owns 58,640 shares of the company’s stock valued at $2,368,000 after buying an additional 499 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 0.1%

NYSE:OVV opened at $51.72 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. The business’s 50-day simple moving average is $43.71 and its 200-day simple moving average is $41.09. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $53.21. The stock has a market capitalization of $14.65 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.69.

Ovintiv (NYSE:OVV) last announced its earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.98 by $0.41. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company posted ($0.23) EPS. Sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.3%. Ovintiv’s dividend payout ratio (DPR) is currently 24.79%.

Analysts Set New Price Targets

OVV has been the subject of a number of analyst reports. William Blair started coverage on shares of Ovintiv in a report on Wednesday, November 26th. They set an “outperform” rating and a $50.00 target price for the company. Zacks Research cut Ovintiv from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Citigroup cut their target price on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Royal Bank Of Canada restated an “outperform” rating and set a $55.00 target price on shares of Ovintiv in a report on Thursday, February 19th. Finally, Barclays upped their price target on Ovintiv from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average target price of $52.41.

Insider Activity at Ovintiv

In related news, COO Gregory Dean Givens sold 50,000 shares of the 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 completion of the transaction, the chief operating officer directly owned 105,867 shares in the company, valued at approximately $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.