SG Americas Securities LLC Sells 404,694 Shares of Ovintiv Inc. (NYSE:OVV)

SG Americas Securities LLC decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 98.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,360 shares of the company’s stock after selling 404,694 shares during the quarter. SG Americas Securities LLC’s holdings in Ovintiv were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in Ovintiv in the 2nd quarter valued at $96,000. QRG Capital Management Inc. increased its stake in Ovintiv by 12.6% in the 2nd quarter. QRG Capital Management Inc. now owns 33,325 shares of the company’s stock worth $1,562,000 after buying an additional 3,727 shares during the period. Manning & Napier Advisors LLC bought a new stake in Ovintiv during the 2nd quarter valued at about $4,369,000. U.S. Capital Wealth Advisors LLC lifted its holdings in Ovintiv by 0.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 138,286 shares of the company’s stock valued at $6,481,000 after buying an additional 1,100 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new position in Ovintiv in the 2nd quarter worth about $1,441,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OVV. Mizuho lifted their price target on shares of Ovintiv from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Wells Fargo & Company dropped their price target on Ovintiv from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Scotiabank lifted their price objective on Ovintiv from $58.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. TD Cowen increased their target price on shares of Ovintiv from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Evercore ISI restated an “outperform” rating and issued a $60.00 price target on shares of Ovintiv in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $60.56.

Insiders Place Their Bets

In other news, Director Howard John Mayson sold 4,000 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Ovintiv Stock Down 0.2 %

Shares of OVV stock opened at $42.62 on Friday. The stock’s fifty day moving average price is $45.42 and its 200 day moving average price is $48.14. Ovintiv Inc. has a 1-year low of $38.99 and a 1-year high of $55.95. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 5.95, a price-to-earnings-growth ratio of 7.10 and a beta of 2.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.44 and a quick ratio of 0.44.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. On average, research analysts expect that Ovintiv Inc. will post 5.69 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.82%. Ovintiv’s payout ratio is 16.76%.

Ovintiv Company 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.