Integrated Advisors Network LLC Sells 467 Shares of Ovintiv Inc. (NYSE:OVV)

Integrated Advisors Network LLC lowered its stake in Ovintiv Inc. (NYSE:OVV) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,101 shares of the company’s stock after selling 467 shares during the period. Integrated Advisors Network LLC’s holdings in Ovintiv were worth $356,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Ovintiv during the 4th quarter valued at $221,000. Blackstone Inc. boosted its holdings in shares of Ovintiv by 43.4% during the 4th quarter. Blackstone Inc. now owns 41,293 shares of the company’s stock valued at $1,814,000 after buying an additional 12,500 shares in the last quarter. Invenomic Capital Management LP boosted its holdings in shares of Ovintiv by 78.5% during the 4th quarter. Invenomic Capital Management LP now owns 544,718 shares of the company’s stock valued at $23,924,000 after buying an additional 239,610 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Ovintiv by 1,560.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock valued at $63,738,000 after buying an additional 1,363,865 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Ovintiv by 12.3% during the 4th quarter. Neuberger Berman Group LLC now owns 14,629 shares of the company’s stock valued at $642,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Ovintiv

In related news, Director Howard John Mayson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares in the company, valued at approximately $2,315,568.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Howard John Mayson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares in the company, valued at approximately $2,315,568.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven W. Nance sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $50.00, for a total value of $600,000.00. Following the transaction, the director now owns 8,929 shares of the company’s stock, valued at $446,450. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

Ovintiv Price Performance

NYSE OVV opened at $45.94 on Wednesday. Ovintiv Inc. has a 52 week low of $34.50 and a 52 week high of $55.95. The firm has a market capitalization of $12.26 billion, a P/E ratio of 6.42 and a beta of 2.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $50.29 and a 200-day moving average price of $47.30.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. Ovintiv had a net margin of 18.12% and a return on equity of 17.74%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.58 billion. Equities research analysts anticipate that Ovintiv Inc. will post 6.15 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Ovintiv’s dividend payout ratio (DPR) is presently 16.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. TD Cowen lifted their price target on Ovintiv from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Bank of America reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Ovintiv in a research report on Friday, June 14th. UBS Group lifted their price target on Ovintiv from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price target on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $58.65.

Ovintiv Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.