Ovintiv Inc. $OVV Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC reduced its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 43.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,142 shares of the company’s stock after selling 10,777 shares during the quarter. Neuberger Berman Group LLC’s holdings in Ovintiv were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OVV. McIlrath & Eck LLC purchased a new position in shares of Ovintiv during the 3rd quarter worth approximately $31,000. HM Payson & Co. acquired a new position in shares of Ovintiv during the 3rd quarter worth approximately $36,000. Foster Dykema Cabot & Partners LLC purchased a new stake in Ovintiv in the 3rd quarter valued at approximately $36,000. Quent Capital LLC purchased a new stake in Ovintiv in the 3rd quarter valued at approximately $37,000. Finally, MAI Capital Management grew its holdings in Ovintiv by 174.6% during the 2nd quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after buying an additional 744 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research report on Monday, December 29th. JPMorgan Chase & Co. started coverage on Ovintiv in a research note on Wednesday, February 25th. They set an “overweight” rating and a $58.00 price objective on the stock. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Citigroup cut their target price on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, William Blair assumed coverage on shares of Ovintiv in a report on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.88.

Insider Activity

In related news, Director Howard John Mayson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the sale, the director directly owned 45,780 shares of the company’s stock, valued at approximately $2,398,414.20. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gregory Dean Givens sold 50,000 shares of the business’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 completion of the sale, the chief operating officer owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. The trade was a 32.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is owned by insiders.

Ovintiv Trading Down 0.7%

Shares of Ovintiv stock opened at $52.25 on Monday. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $53.31. The business’s fifty day moving average is $44.29 and its two-hundred day moving average is $41.30. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a market cap of $14.80 billion, a PE ratio of 10.80, a P/E/G ratio of 2.83 and a beta of 0.69.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.During the same quarter in the previous year, the business earned ($0.23) earnings per share. Analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.3%. Ovintiv’s payout ratio is 24.79%.

About Ovintiv

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.