Thrivent Financial for Lutherans decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV – Free Report) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,100 shares of the company’s stock after selling 30,665 shares during the period. Thrivent Financial for Lutherans’ holdings in Ovintiv were worth $4,040,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC bought a new stake in Ovintiv during the third quarter valued at $36,000. Flagship Harbor Advisors LLC bought a new stake in Ovintiv during the fourth quarter valued at $38,000. IFP Advisors Inc boosted its stake in Ovintiv by 58.4% during the third quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock valued at $54,000 after buying an additional 494 shares during the period. Advisory Services Network LLC bought a new stake in Ovintiv during the third quarter valued at $58,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Ovintiv by 258.2% during the third quarter. CIBC Private Wealth Group LLC now owns 1,576 shares of the company’s stock valued at $64,000 after buying an additional 1,136 shares during the period. Institutional investors own 83.81% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on OVV. Royal Bank Of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Ovintiv in a research note on Wednesday, May 13th. Scotiabank raised Ovintiv from an “outperform” rating to a “buy” rating in a research note on Wednesday. Wall Street Zen lowered Ovintiv from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Stephens raised Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Roth Mkm lifted their price objective on Ovintiv from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $62.32.
Ovintiv Trading Down 0.2%
Shares of OVV stock opened at $58.75 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $57.89 and a two-hundred day moving average price of $47.85. Ovintiv Inc. has a 12-month low of $34.99 and a 12-month high of $63.46. The firm has a market cap of $16.51 billion, a P/E ratio of 18.95 and a beta of 0.57.
Ovintiv (NYSE:OVV – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.15. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%.The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Equities analysts anticipate that Ovintiv Inc. will post 8.27 EPS for the current fiscal year.
Ovintiv Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.20 annualized dividend and a yield of 2.0%. Ovintiv’s payout ratio is 38.71%.
Insider Activity
In other Ovintiv news, Director Howard John Mayson sold 5,000 shares of Ovintiv stock in a transaction dated Tuesday, March 3rd. The stock was 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 $2,398,414.20. The trade was a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Meghan Nicole Eilers sold 11,582 shares of Ovintiv stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $54.78, for a total value of $634,461.96. Following the sale, the executive vice president directly owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. This trade represents a 17.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.85% of the company’s stock.
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.
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