Ovintiv Inc. $OVV Shares Sold by Ellsworth Advisors LLC

Ellsworth Advisors LLC lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 11.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 91,650 shares of the company’s stock after selling 12,035 shares during the quarter. Ellsworth Advisors LLC’s holdings in Ovintiv were worth $3,661,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Ovintiv by 42.1% in the third quarter. Citigroup Inc. now owns 174,090 shares of the company’s stock valued at $7,030,000 after buying an additional 51,562 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Ovintiv by 296.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,012 shares of the company’s stock valued at $3,134,000 after acquiring an additional 59,069 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Ovintiv in the 3rd quarter valued at $1,816,000. Savant Capital LLC increased its holdings in Ovintiv by 412.9% in the 3rd quarter. Savant Capital LLC now owns 36,771 shares of the company’s stock worth $1,485,000 after acquiring an additional 29,602 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its holdings in Ovintiv by 152.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 140,423 shares of the company’s stock worth $5,670,000 after acquiring an additional 84,730 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity

In related news, EVP Meghan Nicole Eilers sold 11,582 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $54.78, for a total transaction of $634,461.96. Following the completion of the sale, the executive vice president owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard John Mayson sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the completion of the sale, the director owned 45,780 shares of the company’s stock, valued at approximately $2,398,414.20. The trade was a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. National Bank Financial increased their price objective on shares of Ovintiv from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. began coverage on shares of Ovintiv in a research report on Wednesday, February 25th. They issued an “overweight” rating and a $58.00 target price on the stock. Citigroup reissued a “neutral” rating and set a $62.00 target price (up from $52.00) on shares of Ovintiv in a research note on Monday. The Goldman Sachs Group raised their price target on shares of Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Finally, TD Cowen lifted their price objective on Ovintiv from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $58.67.

Ovintiv Trading Down 3.3%

Shares of OVV stock opened at $57.39 on Thursday. The stock’s fifty day moving average is $50.74 and its two-hundred day moving average is $43.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $16.26 billion, a P/E ratio of 11.86, a PEG ratio of 2.13 and a beta of 0.69. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $62.60.

Ovintiv (NYSE:OVV) last released its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.41. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.89 billion. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. Research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. Ovintiv’s payout ratio is presently 24.79%.

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.