SageView Advisory Group LLC Purchases Shares of 11,497 Ovintiv Inc. (NYSE:OVV)

SageView Advisory Group LLC purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 11,497 shares of the company’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC acquired a new position in Ovintiv during the fourth quarter valued at approximately $68,000. Quarry LP acquired a new position in Ovintiv during the fourth quarter valued at approximately $221,000. Blackstone Inc. grew its holdings in Ovintiv by 43.4% during the fourth quarter. Blackstone Inc. now owns 41,293 shares of the company’s stock valued at $1,814,000 after purchasing an additional 12,500 shares during the last quarter. Invenomic Capital Management LP grew its stake in shares of Ovintiv by 78.5% in the fourth quarter. Invenomic Capital Management LP now owns 544,718 shares of the company’s stock worth $23,924,000 after acquiring an additional 239,610 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Ovintiv by 1,560.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock worth $63,738,000 after acquiring an additional 1,363,865 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, 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 transaction of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Howard John Mayson sold 4,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $51.14, for a total transaction of $204,560.00. Following the sale, the director now directly owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Nance sold 12,000 shares of the 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 sale, the director now directly owns 8,929 shares in the company, valued at $446,450. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Ovintiv Stock Up 0.7 %

Shares of NYSE OVV opened at $45.94 on Wednesday. The stock has a market cap of $12.26 billion, a PE ratio of 6.42 and a beta of 2.58. The business has a fifty day moving average of $50.29 and a two-hundred day moving average of $47.30. Ovintiv Inc. has a 52-week low of $34.50 and a 52-week high of $55.95. 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 quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. As a group, equities research analysts expect that Ovintiv Inc. will post 6.15 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

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 issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Ovintiv’s payout ratio is presently 16.76%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OVV shares. Mizuho raised their price objective on shares of Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Bank of America restated a “neutral” rating and issued a $55.00 price objective on shares of Ovintiv in a research note on Friday, June 14th. TD Cowen raised their price objective on shares of Ovintiv from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays started coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.65.

About Ovintiv

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.