Pitcairn Co. Sells 1,616 Shares of Ovintiv Inc. (NYSE:OVV)

Pitcairn Co. lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 11.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,659 shares of the company’s stock after selling 1,616 shares during the period. Pitcairn Co.’s holdings in Ovintiv were worth $657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of OVV. Raymond James & Associates raised its holdings in Ovintiv by 2.1% during the fourth quarter. Raymond James & Associates now owns 186,751 shares of the company’s stock worth $8,202,000 after acquiring an additional 3,766 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Ovintiv by 5.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 16,782 shares of the company’s stock valued at $737,000 after buying an additional 920 shares during the period. Viking Fund Management LLC bought a new stake in Ovintiv in the fourth quarter valued at approximately $2,635,000. Blue Trust Inc. raised 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 buying an additional 284 shares during the period. Finally, Quent Capital LLC raised its stake in Ovintiv by 151.3% in the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after buying an additional 351 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OVV. Evercore ISI restated an “outperform” rating and issued a $60.00 price objective on shares of Ovintiv in a research note on Wednesday, July 10th. UBS Group upped their price objective on Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Wolfe Research began coverage on Ovintiv in a research note on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price objective on the stock. TD Cowen upped their price objective on Ovintiv from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Barclays began coverage on Ovintiv in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.33.

Ovintiv Trading Up 0.5 %

Shares of NYSE:OVV opened at $45.85 on Friday. The company has a market capitalization of $12.24 billion, a P/E ratio of 6.40, a P/E/G ratio of 7.49 and a beta of 2.63. Ovintiv Inc. has a 1 year low of $39.68 and a 1 year high of $55.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52. The business’s 50 day simple moving average is $47.65 and its 200 day simple moving average is $47.95.

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

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given 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%.

Insider Buying and Selling

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

Ovintiv 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.