Ovintiv Inc. (NYSE:OVV) Stock Holdings Boosted by Bison Wealth LLC

Bison Wealth LLC raised its position in shares of Ovintiv Inc. (NYSE:OVV) by 54.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,608 shares of the company’s stock after buying an additional 4,448 shares during the period. Bison Wealth LLC’s holdings in Ovintiv were worth $554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OVV. Raymond James & Associates boosted its stake in shares of Ovintiv by 35.3% during the 1st quarter. Raymond James & Associates now owns 57,458 shares of the company’s stock worth $3,107,000 after acquiring an additional 14,978 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ovintiv during the 1st quarter worth $525,000. HighTower Advisors LLC bought a new stake in shares of Ovintiv during the 1st quarter worth $715,000. Cetera Advisor Networks LLC bought a new stake in shares of Ovintiv during the 1st quarter worth $224,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Ovintiv by 45.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,605 shares of the company’s stock worth $843,000 after acquiring an additional 4,895 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Howard John Mayson sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the sale, the director now directly owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at $2,662,012.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,564 shares of company stock valued at $4,660,818. 0.97% of the stock is owned by insiders.

Ovintiv Price Performance

NYSE OVV opened at $52.30 on Wednesday. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95. The stock’s 50-day moving average is $49.42 and its two-hundred day moving average is $46.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $14.07 billion, a P/E ratio of 6.63 and a beta of 2.65.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. On average, analysts anticipate that Ovintiv Inc. will post 6.36 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio is currently 15.21%.

Analysts Set New Price Targets

OVV has been the subject of several research reports. The Goldman Sachs Group raised their price objective on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Jefferies Financial Group increased their target price on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, April 12th. UBS Group increased their target price on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Royal Bank of Canada increased their target price on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Finally, Morgan Stanley increased their target price on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

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.