Perpetual Ltd Invests $370,000 in Ovintiv Inc. (NYSE:OVV)

Perpetual Ltd acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,136 shares of the company’s stock, valued at approximately $370,000.

A number of other institutional investors have also recently bought and sold shares of OVV. Vanguard Group Inc. increased its holdings in shares of Ovintiv by 10.1% in the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after acquiring an additional 2,484,554 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ovintiv by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,639,579 shares of the company’s stock worth $115,937,000 after acquiring an additional 168,320 shares during the period. Northern Trust Corp lifted its position in Ovintiv by 4.5% in the 3rd quarter. Northern Trust Corp now owns 2,069,043 shares of the company’s stock valued at $98,424,000 after acquiring an additional 89,753 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ovintiv by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,676,420 shares of the company’s stock worth $73,628,000 after purchasing an additional 68,718 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in Ovintiv during the 4th quarter worth about $67,149,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of NYSE OVV opened at $46.05 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 6.43 and a beta of 2.58. The stock’s fifty day moving average price is $49.78 and its two-hundred day moving average price is $47.30. Ovintiv Inc. has a one year low of $34.50 and a one year high of $55.95.

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 business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.58 billion. On average, equities analysts forecast that Ovintiv Inc. will post 6.11 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 yield of 2.61%. Ovintiv’s dividend payout ratio (DPR) is presently 16.76%.

Analyst Ratings Changes

A number of analysts have recently commented on OVV shares. Royal Bank of Canada boosted their price target on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Morgan Stanley boosted their price target on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group increased their price objective on shares of Ovintiv from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Bank of America reiterated a “neutral” rating and set a $55.00 price objective on shares of Ovintiv in a research note on Friday, June 14th. Finally, Citigroup increased their price objective on Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $58.65.

Insider Buying and Selling at Ovintiv

In related news, Director Howard John Mayson sold 4,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the transaction, the director now owns 45,279 shares in the company, valued at $2,315,568.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ovintiv news, 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 transaction of $600,000.00. Following the completion of the transaction, the director now directly owns 8,929 shares in the company, valued at $446,450. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard John Mayson sold 4,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the sale, the director now owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The disclosure for this sale can be found here. Insiders own 1.70% 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.