Ovintiv Inc. $OVV Shares Sold by Smead Capital Management Inc.

Smead Capital Management Inc. trimmed its stake in Ovintiv Inc. (NYSE:OVV) by 20.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,459,320 shares of the company’s stock after selling 896,260 shares during the period. Ovintiv makes up 2.7% of Smead Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Smead Capital Management Inc.’s holdings in Ovintiv were worth $139,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of OVV. McIlrath & Eck LLC acquired a new position in Ovintiv in the third quarter valued at $31,000. HM Payson & Co. purchased a new stake in shares of Ovintiv in the 3rd quarter valued at about $36,000. Quent Capital LLC acquired a new stake in shares of Ovintiv in the 3rd quarter valued at about $37,000. MAI Capital Management boosted its position in shares of Ovintiv by 174.6% in the 2nd quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after purchasing an additional 744 shares during the period. Finally, Allworth Financial LP grew its stake in Ovintiv by 126.2% during the 2nd quarter. Allworth Financial LP now owns 1,624 shares of the company’s stock worth $62,000 after buying an additional 906 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ovintiv

In other news, COO Gregory Dean Givens sold 50,000 shares of Ovintiv stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.33, for a total value 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. The trade was a 32.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OVV has been the subject of a number of research reports. Zacks Research cut Ovintiv from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Stephens raised shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $54.00 price target on shares of Ovintiv in a research report on Saturday, January 17th. Wells Fargo & Company raised their price objective on shares of Ovintiv from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Finally, Citigroup dropped their price objective on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.22.

Ovintiv Stock Performance

NYSE:OVV opened at $50.54 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 55.54, a price-to-earnings-growth ratio of 2.85 and a beta of 0.78. The firm’s fifty day moving average price is $41.67 and its 200 day moving average price is $40.46. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $51.23.

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.