Ovintiv Inc. $OVV Shares Sold by Horizon Investments LLC

Horizon Investments LLC lowered its holdings in Ovintiv Inc. (NYSE:OVV) by 93.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,982 shares of the company’s stock after selling 59,264 shares during the quarter. Horizon Investments LLC’s holdings in Ovintiv were worth $156,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Ovintiv in the third quarter worth $36,000. Quent Capital LLC acquired a new stake in shares of Ovintiv in the third quarter worth $37,000. Flagship Harbor Advisors LLC acquired a new stake in Ovintiv during the 4th quarter valued at $38,000. IFP Advisors Inc grew its holdings in Ovintiv by 58.4% during the 3rd quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock valued at $54,000 after purchasing an additional 494 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Ovintiv during the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OVV shares. JPMorgan Chase & Co. started coverage on shares of Ovintiv in a report on Wednesday, February 25th. They set an “overweight” rating and a $58.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $54.00 price target on shares of Ovintiv in a report on Saturday, January 17th. Truist Financial raised their price target on shares of Ovintiv from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, April 13th. Weiss Ratings raised shares of Ovintiv from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 2nd. Finally, Scotiabank raised their price target on shares of Ovintiv from $58.00 to $65.00 and gave the company a “sector outperform” rating in a report on Thursday, March 19th. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

Insider Transactions at Ovintiv

In other news, Director Howard John Mayson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the transaction, the director directly owned 45,780 shares in the company, valued at approximately $2,398,414.20. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Meghan Nicole Eilers sold 11,582 shares of Ovintiv 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 in the company, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.85% of the company’s stock.

Ovintiv Trading Down 0.0%

Ovintiv stock opened at $57.82 on Monday. The firm’s 50-day moving average is $56.34 and its 200-day moving average is $46.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Ovintiv Inc. has a 1 year low of $34.88 and a 1 year high of $63.46. The company has a market cap of $16.38 billion, a P/E ratio of 11.95, a PEG ratio of 1.94 and a beta of 0.57.

Ovintiv (NYSE:OVV) last posted its quarterly 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. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted ($0.23) EPS. On average, equities analysts expect that Ovintiv Inc. will post 6.35 earnings per share for the current year.

Ovintiv Announces Dividend

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