CANADA LIFE ASSURANCE Co Sells 10,739 Shares of Ovintiv Inc. (NYSE:OVV)

CANADA LIFE ASSURANCE Co reduced its position in shares of Ovintiv Inc. (NYSE:OVV) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,325 shares of the company’s stock after selling 10,739 shares during the period. CANADA LIFE ASSURANCE Co owned 0.06% of Ovintiv worth $8,577,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westfield Capital Management Co. LP boosted its holdings in shares of Ovintiv by 3.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,447,248 shares of the company’s stock worth $63,563,000 after buying an additional 44,241 shares during the period. TD Asset Management Inc boosted its holdings in shares of Ovintiv by 176.3% during the 4th quarter. TD Asset Management Inc now owns 46,149 shares of the company’s stock worth $2,027,000 after buying an additional 29,449 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Ovintiv by 1,202.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock worth $610,000 after buying an additional 12,813 shares during the period. FORA Capital LLC bought a new stake in shares of Ovintiv during the 1st quarter worth $4,244,000. Finally, Jennison Associates LLC acquired a new position in Ovintiv during the 1st quarter valued at $6,334,000. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OVV shares. Barclays started coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They set an “overweight” rating and a $69.00 target price for the company. Bank of America reiterated a “neutral” rating and set a $55.00 target price on shares of Ovintiv in a research note on Friday, June 14th. Evercore ISI reiterated an “outperform” rating and set a $60.00 target price on shares of Ovintiv in a research note on Wednesday, July 10th. Morgan Stanley upped their target price on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Wolfe Research started coverage on shares of Ovintiv in a research note on Thursday, July 18th. They set an “outperform” rating and a $65.00 target price for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Ovintiv Stock Up 0.5 %

OVV opened at $45.85 on Friday. The firm’s 50-day simple moving average is $47.65 and its 200-day simple moving average is $47.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a twelve month low of $39.68 and a twelve month high of $55.95. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 7.49 and a beta of 2.63.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Ovintiv had a net margin of 18.12% and a return on equity of 17.74%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities research analysts anticipate that Ovintiv Inc. will post 5.7 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Friday, June 14th. Ovintiv’s dividend payout ratio is currently 16.76%.

Insiders Place Their Bets

In other news, Director Howard John Mayson sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the transaction, the director now owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Howard John Mayson sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the transaction, the director now owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now directly owns 8,929 shares in the company, valued at approximately $446,450. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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.