Miller Howard Investments Inc. NY Increases Stake in Ovintiv Inc. (NYSE:OVV)

Miller Howard Investments Inc. NY boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 3.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,092 shares of the company’s stock after buying an additional 945 shares during the period. Miller Howard Investments Inc. NY’s holdings in Ovintiv were worth $1,510,000 at the end of the most recent reporting period.

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

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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 8,929 shares in the company, valued at $446,450. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

Ovintiv Stock Performance

Shares of OVV opened at $47.21 on Tuesday. The business’s fifty day moving average price is $49.67 and its 200 day moving average price is $47.42. Ovintiv Inc. has a 12-month low of $34.95 and a 12-month high of $55.95. The stock has a market capitalization of $12.60 billion, a PE ratio of 6.59 and a beta of 2.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Equities research analysts forecast that Ovintiv Inc. will post 6.11 EPS for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, June 14th. Ovintiv’s dividend payout ratio (DPR) is presently 16.76%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Mizuho raised their price target on shares of Ovintiv from $58.00 to $64.00 and gave the company a “buy” rating in a report on Monday, May 13th. Barclays assumed coverage on shares of Ovintiv in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Citigroup increased their price objective on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Evercore ISI raised shares of Ovintiv from an “in-line” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.65.

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.