Foster & Motley Inc. Acquires 17,685 Shares of Ovintiv Inc. $OVV

Foster & Motley Inc. boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 126.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,616 shares of the company’s stock after buying an additional 17,685 shares during the quarter. Foster & Motley Inc.’s holdings in Ovintiv were worth $1,239,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its holdings in shares of Ovintiv by 70.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock valued at $391,000 after acquiring an additional 3,788 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Ovintiv during the 1st quarter worth $202,000. Focus Partners Wealth boosted its position in Ovintiv by 49.3% during the first quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock valued at $825,000 after purchasing an additional 6,364 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Ovintiv by 47.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock valued at $78,000 after purchasing an additional 589 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Ovintiv in the second quarter valued at about $436,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several analyst reports. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company increased their price target on shares of Ovintiv from $42.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Ovintiv in a research report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ovintiv in a research note on Monday, December 29th. Finally, UBS Group increased their target price on shares of Ovintiv from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.67.

Ovintiv Stock Down 3.3%

Shares of OVV stock opened at $57.39 on Thursday. The stock’s fifty day moving average price is $50.74 and its 200 day moving average price is $43.26. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $62.60. The company has a market cap of $16.26 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 2.13 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.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating 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 period last year, the business posted ($0.23) earnings per share. On average, research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, March 13th. Ovintiv’s dividend payout ratio (DPR) is presently 24.79%.

Insider Activity at Ovintiv

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $54.78, for a total transaction of $634,461.96. Following the sale, the executive vice president owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. The trade was a 17.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Howard John Mayson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the transaction, the director owned 45,780 shares in the company, valued at $2,398,414.20. The trade was a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.70% of the company’s stock.

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.