American Century Companies Inc. Boosts Position in Ovintiv Inc. $OVV

American Century Companies Inc. raised its position in Ovintiv Inc. (NYSE:OVV) by 17.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 971,144 shares of the company’s stock after purchasing an additional 144,025 shares during the quarter. American Century Companies Inc. owned about 0.38% of Ovintiv worth $39,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC acquired a new stake in shares of Ovintiv during the 3rd quarter worth about $31,000. HM Payson & Co. purchased a new stake in Ovintiv in the third quarter valued at approximately $36,000. Quent Capital LLC purchased a new stake in Ovintiv in the third quarter valued at approximately $37,000. MAI Capital Management lifted its stake in Ovintiv by 174.6% during the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock worth $45,000 after purchasing an additional 744 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Ovintiv by 126.2% during the 2nd quarter. Allworth Financial LP now owns 1,624 shares of the company’s stock valued at $62,000 after acquiring an additional 906 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Down 0.7%

OVV stock opened at $52.25 on Friday. The stock has a market capitalization of $14.80 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. The company has a fifty day moving average of $44.29 and a 200-day moving average of $41.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Ovintiv Inc. has a one year low of $29.80 and a one year high of $53.31.

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

Ovintiv Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OVV. National Bank Financial increased their target price on shares of Ovintiv from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. TD Cowen raised Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Barclays increased their price objective on Ovintiv from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. UBS Group boosted their target price on Ovintiv from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, William Blair began coverage on Ovintiv in a report on Wednesday, November 26th. They set an “outperform” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $52.88.

Insider Activity

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 of the company’s stock, valued at approximately $4,269,616.11. This represents a 32.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is owned by insiders.

About Ovintiv

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.