Focus Partners Advisor Solutions LLC Purchases New Position in Ovintiv Inc. $OVV

Focus Partners Advisor Solutions LLC acquired a new position in Ovintiv Inc. (NYSE:OVV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,069 shares of the company’s stock, valued at approximately $834,000.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC purchased a new stake in shares of Ovintiv in the 3rd quarter worth $31,000. HM Payson & Co. purchased a new position in shares of Ovintiv during the third quarter valued at $36,000. Quent Capital LLC purchased a new position in shares of Ovintiv during the third quarter valued at $37,000. MAI Capital Management raised its holdings in shares of Ovintiv by 174.6% in the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after acquiring an additional 744 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Ovintiv by 126.2% in the second quarter. Allworth Financial LP now owns 1,624 shares of the company’s stock valued at $62,000 after acquiring an additional 906 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Price Performance

NYSE OVV opened at $52.25 on Friday. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 2.83 and a beta of 0.69. 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 stock’s fifty day moving average price is $44.29 and its 200 day moving average price is $41.28. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $53.31.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.41. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.During the same quarter in the previous year, the firm posted ($0.23) EPS. As a group, equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. Ovintiv’s payout ratio is 24.79%.

Insider Transactions at Ovintiv

In related news, COO Gregory Dean Givens sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.33, for a total value of $2,016,500.00. Following the sale, the chief operating officer owned 105,867 shares in the company, valued at $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the completion of the transaction, the director owned 45,780 shares in the company, valued at approximately $2,398,414.20. This trade represents a 9.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several recent research reports. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. JPMorgan Chase & Co. assumed coverage on shares of Ovintiv in a report on Wednesday, February 25th. They issued an “overweight” rating and a $58.00 price target for the company. Zacks Research raised shares of Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ovintiv in a research note on Monday, December 29th. Finally, Stephens raised shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus price target of $52.88.

Ovintiv Company 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.