Y Intercept Hong Kong Ltd Sells 93,170 Shares of Ovintiv Inc. $OVV

Y Intercept Hong Kong Ltd trimmed its stake in shares of Ovintiv Inc. (NYSE:OVV) by 55.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,558 shares of the company’s stock after selling 93,170 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ovintiv were worth $3,011,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its position in shares of Ovintiv by 70.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock valued at $391,000 after buying an additional 3,788 shares during the period. Great Lakes Advisors LLC bought a new stake in Ovintiv during the 1st quarter worth approximately $202,000. Focus Partners Wealth lifted its stake in Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock worth $825,000 after purchasing an additional 6,364 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Ovintiv by 47.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock worth $78,000 after purchasing an additional 589 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Ovintiv by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,630 shares of the company’s stock valued at $3,296,000 after purchasing an additional 666 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the topic of several research analyst reports. Citigroup decreased their price target on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Barclays decreased their target price on Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. decreased their price objective on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada set a $55.00 target price on shares of Ovintiv and gave the company an “outperform” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average price target of $51.82.

Insider Buying and Selling at Ovintiv

In other news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the sale, the chief operating officer owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Ovintiv Stock Up 1.0%

Shares of OVV opened at $41.77 on Tuesday. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $45.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45. The stock has a 50 day simple moving average of $39.62 and a two-hundred day simple moving average of $39.74. The firm has a market cap of $10.58 billion, a P/E ratio of 45.90, a P/E/G ratio of 2.42 and a beta of 0.76.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. On average, analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $0.30 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 2.9%. Ovintiv’s payout ratio is presently 131.87%.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.