Dimensional Fund Advisors LP Purchases 1,927,193 Shares of Ovintiv Inc. $OVV

Dimensional Fund Advisors LP increased its position in Ovintiv Inc. (NYSE:OVV) by 25.8% during the third quarter, Holdings Channel reports. The firm owned 9,389,865 shares of the company’s stock after buying an additional 1,927,193 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ovintiv were worth $379,165,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Ovintiv by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company’s stock valued at $599,000 after buying an additional 340 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Ovintiv by 0.6% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company’s stock valued at $2,560,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC boosted its position in Ovintiv by 3.8% during the second quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock worth $438,000 after purchasing an additional 427 shares during the period. Forum Financial Management LP boosted its position in Ovintiv by 5.2% during the third quarter. Forum Financial Management LP now owns 9,402 shares of the company’s stock worth $380,000 after purchasing an additional 464 shares during the period. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of Ovintiv by 0.9% in the third quarter. Illinois Municipal Retirement Fund now owns 58,640 shares of the company’s stock valued at $2,368,000 after purchasing an additional 499 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OVV. Evercore restated an “outperform” rating and set a $47.00 target price on shares of Ovintiv in a research note on Thursday, November 6th. William Blair initiated coverage on shares of Ovintiv in a research report on Wednesday, November 26th. They set an “outperform” rating and a $50.00 price objective for the company. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $54.00 target price on shares of Ovintiv in a research note on Saturday, January 17th. Finally, National Bank Financial boosted their price target on Ovintiv from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have given 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 a consensus target price of $52.88.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Gregory Dean Givens sold 50,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer owned 105,867 shares in the company, valued at $4,269,616.11. This represents a 32.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is owned by corporate insiders.

Ovintiv Stock Up 1.8%

Shares of OVV opened at $52.67 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $53.21. The firm’s 50 day moving average is $44.00 and its 200-day moving average is $41.17. The stock has a market capitalization of $14.92 billion, a PE ratio of 10.88, a P/E/G ratio of 2.80 and a beta of 0.69.

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 the consensus estimate of $0.98 by $0.41. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.During the same period in the prior year, the firm posted ($0.23) EPS. Equities research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, March 13th. Ovintiv’s dividend payout ratio is currently 24.79%.

Ovintiv Company 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.