Wedge Capital Management L L P NC Has $19.15 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Wedge Capital Management L L P NC increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 436,086 shares of the company’s stock after acquiring an additional 68,682 shares during the period. Wedge Capital Management L L P NC owned about 0.16% of Ovintiv worth $19,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OVV. Victory Capital Management Inc. raised its stake in Ovintiv by 10.7% during the third quarter. Victory Capital Management Inc. now owns 528,836 shares of the company’s stock worth $25,157,000 after acquiring an additional 51,261 shares in the last quarter. Toronto Dominion Bank boosted its position in Ovintiv by 15.5% in the third quarter. Toronto Dominion Bank now owns 761,303 shares of the company’s stock valued at $36,215,000 after buying an additional 101,978 shares in the last quarter. Vanguard Group Inc. grew its stake in Ovintiv by 10.1% during the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after buying an additional 2,484,554 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ovintiv by 2.5% during the third quarter. Legal & General Group Plc now owns 1,124,654 shares of the company’s stock worth $53,500,000 after buying an additional 27,381 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of Ovintiv in the third quarter valued at approximately $18,097,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 0.8 %

NYSE OVV opened at $51.77 on Tuesday. Ovintiv Inc. has a 12 month low of $32.07 and a 12 month high of $55.95. The stock has a 50-day simple moving average of $50.21 and a 200 day simple moving average of $46.48. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $13.92 billion, a PE ratio of 6.61 and a beta of 2.65.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.75 billion. Research analysts forecast that Ovintiv Inc. will post 6.36 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.32%. Ovintiv’s dividend payout ratio (DPR) is presently 15.21%.

Analyst Ratings Changes

A number of research firms recently weighed in on OVV. Wells Fargo & Company dropped their price target on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. The Goldman Sachs Group increased their price objective on shares of Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. National Bankshares lowered their price objective on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. UBS Group upped their target price on shares of Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Scotiabank lowered their price target on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Insider Transactions at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following 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 SEC, which is accessible through this hyperlink. In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction that occurred 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 transaction, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the completion of the transaction, the executive vice president now owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. 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 over the last three months. 0.97% of the stock is currently 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.