Universal Beteiligungs und Servicegesellschaft mbH Purchases 13,873 Shares of Ovintiv Inc. $OVV

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 9.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 157,764 shares of the company’s stock after purchasing an additional 13,873 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Ovintiv were worth $6,371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McIlrath & Eck LLC acquired a new stake in Ovintiv during the 3rd quarter worth about $31,000. IFP Advisors Inc boosted its position in shares of 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 acquired a new stake in Ovintiv during the second quarter worth approximately $35,000. HM Payson & Co. bought a new stake in Ovintiv in the third quarter worth approximately $36,000. Finally, Quent Capital LLC acquired a new position in Ovintiv in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on OVV shares. Scotiabank raised their price objective on shares of Ovintiv from $51.00 to $58.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Evercore ISI restated an “outperform” rating and issued a $47.00 price target on shares of Ovintiv in a report on Thursday, November 6th. UBS Group reaffirmed a “buy” rating on shares of Ovintiv in a research note on Thursday. Royal Bank Of Canada set a $55.00 price objective on shares of Ovintiv and gave the company an “outperform” rating in a report on Wednesday, October 15th. Finally, William Blair began coverage on Ovintiv in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.82.

Insider Activity at Ovintiv

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 stock was sold at an average price of $40.33, for a total value of $2,016,500.00. Following the transaction, the chief operating officer owned 105,867 shares in the company, valued at $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Ovintiv Stock Up 0.9%

Ovintiv stock opened at $41.39 on Tuesday. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $45.96. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The firm’s fifty day moving average price is $39.62 and its two-hundred day moving average price is $39.74. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.86 billion. On average, equities research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, December 15th. Ovintiv’s payout ratio is currently 131.87%.

Ovintiv 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.