CWA Asset Management Group LLC Sells 22,143 Shares of Ovintiv Inc. $OVV

CWA Asset Management Group LLC decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 76.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,650 shares of the company’s stock after selling 22,143 shares during the quarter. CWA Asset Management Group LLC’s holdings in Ovintiv were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its position in shares of Ovintiv by 70.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock valued at $391,000 after purchasing an additional 3,788 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Ovintiv during the 1st quarter worth about $202,000. Focus Partners Wealth boosted its holdings in shares of Ovintiv by 49.3% during the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock worth $825,000 after buying an additional 6,364 shares during the period. Geneos Wealth Management Inc. grew its stake in Ovintiv by 47.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock valued at $78,000 after buying an additional 589 shares during the last quarter. Finally, MAI Capital Management grew its stake in Ovintiv by 174.6% in the 2nd quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after buying an additional 744 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OVV. UBS Group raised their price objective on shares of Ovintiv from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Barclays upped their target price on Ovintiv from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. Mizuho increased their target price on Ovintiv from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Ovintiv in a research note on Monday, December 29th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.89.

Insider Buying and Selling

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares in the company, valued at $2,963,159.76. This trade represents a 17.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard John Mayson sold 5,000 shares of Ovintiv 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 completion of the transaction, the director directly owned 45,780 shares of the company’s stock, valued at $2,398,414.20. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.89% of the company’s stock.

Ovintiv Stock Performance

NYSE OVV opened at $59.00 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $16.72 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.93 and a beta of 0.69. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $59.44. The firm has a 50-day moving average price of $48.32 and a two-hundred day moving average price of $42.50.

Ovintiv (NYSE:OVV) last announced 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 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 analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted ($0.23) EPS. Analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given 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 yield of 2.0%. Ovintiv’s dividend payout ratio is currently 24.79%.

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.