Sanctuary Advisors LLC Takes $745,000 Position in Ovintiv Inc. $OVV

Sanctuary Advisors LLC purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,151 shares of the company’s stock, valued at approximately $745,000.

A number of other institutional investors also recently bought and sold shares of OVV. Steph & Co. bought a new stake in shares of Ovintiv in the 1st quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ovintiv during the 2nd quarter valued at about $32,000. Los Angeles Capital Management LLC bought a new position in Ovintiv during the 4th quarter valued at about $46,000. Deseret Mutual Benefit Administrators raised its position in Ovintiv by 27.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock worth $52,000 after purchasing an additional 287 shares during the period. Finally, Root Financial Partners LLC raised its position in Ovintiv by 43.2% in the 1st quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock worth $54,000 after purchasing an additional 277 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OVV. National Bank Financial boosted their target price on Ovintiv from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Truist Financial reiterated a “buy” rating and issued a $73.00 price target (up from $66.00) on shares of Ovintiv in a report on Monday, July 27th. Stephens reissued a “positive” rating and set a $69.00 price target on shares of Ovintiv in a research note on Friday, July 24th. Scotiabank upgraded Ovintiv from an “outperform” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, Texas Capital raised Ovintiv to a “strong-buy” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.89.

Ovintiv Price Performance

Ovintiv stock opened at $64.59 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 18.25 and a beta of 0.53. The firm has a 50-day moving average of $59.32 and a two-hundred day moving average of $56.90. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $67.44.

Ovintiv (NYSE:OVV) last issued its earnings results on Thursday, July 23rd. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, research analysts forecast that Ovintiv Inc. will post 7.09 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Ovintiv’s dividend payout ratio (DPR) is presently 33.90%.

Insider Buying and Selling

In other Ovintiv news, EVP Rachel Maureen Moore sold 7,753 shares of Ovintiv stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the sale, the executive vice president directly owned 72,530 shares of the company’s stock, valued at $4,592,599.60. The trade was a 9.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.

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.