Atlas Capital Advisors LLC Purchases New Holdings in Ovintiv Inc. (NYSE:OVV)

Atlas Capital Advisors LLC purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,427 shares of the company’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. American National Bank purchased a new stake in shares of Ovintiv during the first quarter valued at approximately $27,000. Quent Capital LLC increased its position in shares of Ovintiv by 151.3% during the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after acquiring an additional 351 shares during the last quarter. Avalon Trust Co purchased a new stake in shares of Ovintiv during the fourth quarter valued at approximately $34,000. Pacifica Partners Inc. purchased a new stake in Ovintiv in the fourth quarter worth $37,000. Finally, Creekmur Asset Management LLC purchased a new stake in Ovintiv in the fourth quarter worth $68,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Price Performance

NYSE:OVV opened at $45.96 on Thursday. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 6.42 and a beta of 2.58. Ovintiv Inc. has a 52-week low of $35.19 and a 52-week high of $55.95. The stock has a fifty day moving average of $49.56 and a 200 day moving average of $47.46. 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 posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. On average, research analysts expect that Ovintiv Inc. will post 6.11 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm 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 2.61%. The ex-dividend date of this dividend is Friday, June 14th. Ovintiv’s dividend payout ratio is 16.76%.

Insider Activity at Ovintiv

In related news, Director Steven W. Nance sold 12,000 shares of Ovintiv 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 owns 8,929 shares of the company’s stock, valued at $446,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ovintiv news, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction dated 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 owns 8,929 shares of the company’s stock, valued at $446,450. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction dated 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 disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada raised their target price on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. UBS Group raised their target price on Ovintiv from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Bank of America reissued a “neutral” rating and issued a $55.00 target price on shares of Ovintiv in a research report on Friday, June 14th. Finally, Mizuho raised their target price on Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.