U.S. Capital Wealth Advisors LLC Has $5.89 Million Holdings in Ovintiv Inc. (NYSE:OVV)

U.S. Capital Wealth Advisors LLC lifted its position in Ovintiv Inc. (NYSE:OVV) by 4.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 134,032 shares of the company’s stock after acquiring an additional 5,701 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Ovintiv were worth $5,887,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. lifted its position in shares of Ovintiv by 0.6% in the third quarter. Xponance Inc. now owns 41,823 shares of the company’s stock worth $1,990,000 after purchasing an additional 240 shares in the last quarter. LPL Financial LLC boosted its position in Ovintiv by 0.3% during the third quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock valued at $4,265,000 after purchasing an additional 261 shares during the last quarter. Blue Trust Inc. grew its stake in Ovintiv by 20.5% in the fourth quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock valued at $80,000 after purchasing an additional 284 shares in the last quarter. Signaturefd LLC increased its position in Ovintiv by 1.7% in the 3rd quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock worth $908,000 after purchasing an additional 317 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Ovintiv by 20.3% during the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock worth $85,000 after purchasing an additional 328 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

OVV traded up $0.47 during trading on Friday, reaching $51.54. 2,782,248 shares of the company’s stock were exchanged, compared to its average volume of 2,329,908. The company has a market capitalization of $13.86 billion, a P/E ratio of 6.53 and a beta of 2.65. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $51.59 and a 200 day moving average price of $46.74. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. As a group, analysts predict that Ovintiv Inc. will post 6.13 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. Ovintiv’s dividend payout ratio (DPR) is presently 15.21%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OVV. Barclays started coverage on Ovintiv in a report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective on the stock. Wells Fargo & Company cut their price objective on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. National Bankshares dropped their price target on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Mizuho reaffirmed a “buy” rating and set a $58.00 price objective on shares of Ovintiv in a report on Thursday, April 4th. Finally, Jefferies Financial Group lifted their target price on shares of Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now directly owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the transaction, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the sale, the director now directly owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,564 shares of company stock valued at $4,660,818 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.