Global Assets Advisory LLC Invests $1.28 Million in Ovintiv Inc. (NYSE:OVV)

Global Assets Advisory LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,748 shares of the company’s stock, valued at approximately $1,284,000.

A number of other hedge funds have also recently bought and sold shares of OVV. Westfield Capital Management Co. LP boosted its stake in shares of Ovintiv by 3.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,447,248 shares of the company’s stock valued at $63,563,000 after buying an additional 44,241 shares during the last quarter. TD Asset Management Inc boosted its stake in Ovintiv by 176.3% during the 4th quarter. TD Asset Management Inc now owns 46,149 shares of the company’s stock valued at $2,027,000 after acquiring an additional 29,449 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Ovintiv by 1,202.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock worth $610,000 after acquiring an additional 12,813 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Ovintiv by 15.5% in the 3rd quarter. Toronto Dominion Bank now owns 761,303 shares of the company’s stock worth $36,215,000 after purchasing an additional 101,978 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ovintiv by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock valued at $1,285,816,000 after purchasing an additional 2,484,554 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Mizuho lifted their price target on Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Barclays initiated coverage on Ovintiv in a research report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Ovintiv in a report on Friday, June 14th. Morgan Stanley increased their target price on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Citigroup lifted their price target on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $58.65.

Insider Activity

In other Ovintiv news, Director Howard John Mayson sold 4,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the sale, the director now directly owns 45,279 shares in the company, valued at $2,315,568.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now directly owns 8,929 shares of the company’s stock, valued at approximately $446,450. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Howard John Mayson sold 4,000 shares of Ovintiv 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 completion of the transaction, the director now owns 45,279 shares in the company, 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 Stock Down 1.5 %

Ovintiv stock opened at $45.96 on Thursday. Ovintiv Inc. has a 52 week low of $35.19 and a 52 week high of $55.95. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 6.42 and a beta of 2.58. The company’s 50-day moving average price is $49.56 and its two-hundred day moving average price is $47.46. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.58 billion. Ovintiv had a net margin of 18.12% and a return on equity of 17.74%. On average, analysts expect that Ovintiv Inc. will post 6.11 EPS for the current fiscal year.

Ovintiv Announces Dividend

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

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.