SageView Advisory Group LLC Makes New $500,000 Investment in Ovintiv Inc. (NYSE:OVV)

SageView Advisory Group LLC bought a new position in shares of Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,497 shares of the company’s stock, valued at approximately $500,000.

A number of other institutional investors have also made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Ovintiv by 0.3% during the third quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock worth $4,265,000 after purchasing an additional 261 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Ovintiv by 20.5% during the fourth quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock worth $80,000 after purchasing an additional 284 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Ovintiv by 20.3% during the fourth quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock worth $85,000 after purchasing an additional 328 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Ovintiv by 107.6% during the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after purchasing an additional 341 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Ovintiv by 151.3% during the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after purchasing an additional 351 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OVV shares. Bank of America reissued a “neutral” rating and set a $55.00 target price on shares of Ovintiv in a research report on Friday, June 14th. TD Cowen upped their price target on shares of Ovintiv from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada upped their price target on shares of Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Morgan Stanley upped their price target on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Barclays assumed coverage on shares of Ovintiv in a report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.65.

Ovintiv Stock Up 0.7 %

Shares of NYSE:OVV opened at $45.94 on Wednesday. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 6.42 and a beta of 2.58. Ovintiv Inc. has a 1-year low of $34.50 and a 1-year high of $55.95. The company’s fifty day moving average is $50.29 and its two-hundred day moving average is $47.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.52 and a current ratio of 0.52.

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

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.61%. Ovintiv’s dividend payout ratio is currently 16.76%.

Insider Transactions at Ovintiv

In other news, Director Howard John Mayson sold 4,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were 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 owns 45,279 shares in the company, valued at $2,315,568.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Steven W. Nance sold 12,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now owns 8,929 shares in the company, valued at $446,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 4,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the transaction, the director now owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

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.