Ovintiv Inc. $OVV Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 466.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 132,552 shares of the company’s stock after acquiring an additional 109,142 shares during the period. SG Americas Securities LLC’s holdings in Ovintiv were worth $5,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC acquired a new stake in Ovintiv in the 3rd quarter worth approximately $31,000. IFP Advisors Inc increased its stake in Ovintiv by 316.7% during the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after purchasing an additional 643 shares in the last quarter. Dogwood Wealth Management LLC purchased a new position in shares of Ovintiv in the second quarter worth $35,000. HM Payson & Co. purchased a new position in shares of Ovintiv in the third quarter worth $36,000. Finally, MAI Capital Management lifted its stake in shares of Ovintiv by 174.6% during the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock worth $45,000 after buying an additional 744 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the sale, the chief operating officer owned 105,867 shares of the company’s stock, valued at $4,269,616.11. This trade represents a 32.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the topic of several research reports. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Royal Bank Of Canada set a $55.00 price target on Ovintiv and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Roth Capital initiated coverage on Ovintiv in a report on Monday, October 13th. They issued a “neutral” rating and a $42.00 price objective on the stock. Barclays reduced their price objective on Ovintiv from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company lifted their target price on Ovintiv from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $51.89.

Ovintiv Price Performance

Shares of OVV opened at $38.69 on Friday. The business’s 50-day moving average is $39.19 and its two-hundred day moving average is $39.69. The company has a market capitalization of $9.80 billion, a P/E ratio of 42.51, a P/E/G ratio of 1.86 and a beta of 0.76. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $46.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.45 and a current ratio of 0.45.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%.The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Ovintiv’s payout ratio is presently 131.87%.

Ovintiv Company Profile

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.