Park Avenue Securities LLC Buys 2,214 Shares of Ovintiv Inc. (NYSE:OVV)

Park Avenue Securities LLC raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 41.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,529 shares of the company’s stock after purchasing an additional 2,214 shares during the quarter. Park Avenue Securities LLC’s holdings in Ovintiv were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank purchased a new position in Ovintiv in the first quarter worth $27,000. Wedmont Private Capital purchased a new position in shares of Ovintiv in the 1st quarter worth about $247,000. Polianta Ltd bought a new position in shares of Ovintiv during the 1st quarter valued at about $1,188,000. Perpetual Ltd purchased a new position in shares of Ovintiv during the 1st quarter valued at about $370,000. Finally, GAMMA Investing LLC lifted its position in Ovintiv by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the company’s stock worth $165,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

OVV has been the topic of a number of recent research reports. UBS Group increased their price target on shares of Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. The Goldman Sachs Group boosted their price target on shares of Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Evercore ISI raised Ovintiv from an “in-line” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Friday, June 14th. Jefferies Financial Group boosted their target price on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Morgan Stanley raised 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $58.65.

Insider Buying and Selling

In other Ovintiv 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 transaction of $204,560.00. Following the completion of the transaction, the director now owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 value of $204,560.00. Following the sale, the director now directly owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven W. Nance sold 12,000 shares of the firm’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 directly owns 8,929 shares of the company’s stock, valued at approximately $446,450. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Ovintiv Trading Up 0.6 %

NYSE:OVV opened at $46.87 on Friday. The company has a 50-day moving average price of $49.24 and a 200-day moving average price of $47.48. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 6.55 and a beta of 2.58. 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 Inc. has a 12 month low of $36.27 and a 12 month high of $55.95.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.58 billion. Equities analysts predict that Ovintiv Inc. will post 6.11 EPS for the current year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. 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.