Lighthouse Investment Partners LLC Sells 115,082 Shares of Ovintiv Inc. $OVV

Lighthouse Investment Partners LLC decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 47.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 125,000 shares of the company’s stock after selling 115,082 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Ovintiv were worth $5,048,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OVV. Integrated Wealth Concepts LLC raised its stake in Ovintiv by 167.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,367 shares of the company’s stock valued at $701,000 after acquiring an additional 10,869 shares during the period. Holocene Advisors LP boosted its position in Ovintiv by 5.1% during the third quarter. Holocene Advisors LP now owns 2,619,615 shares of the company’s stock worth $105,780,000 after purchasing an additional 126,245 shares during the period. Gotham Asset Management LLC boosted its position in Ovintiv by 110.4% during the third quarter. Gotham Asset Management LLC now owns 103,223 shares of the company’s stock worth $4,168,000 after purchasing an additional 54,159 shares during the period. Focus Partners Wealth increased its stake in shares of Ovintiv by 395.1% in the third quarter. Focus Partners Wealth now owns 35,680 shares of the company’s stock worth $1,441,000 after purchasing an additional 28,473 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Ovintiv in the third quarter worth about $311,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Ovintiv

In related news, Director Howard John Mayson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the completion of the transaction, the director directly owned 45,780 shares in the company, valued at $2,398,414.20. The trade was a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $54.93 on Tuesday. The company has a 50 day moving average of $46.10 and a 200 day moving average of $41.87. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $15.56 billion, a P/E ratio of 11.35, a P/E/G ratio of 3.01 and a beta of 0.69. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $55.85.

Ovintiv (NYSE:OVV) last posted its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.41. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. During the same period in the prior year, the company posted ($0.23) EPS. As a group, sell-side analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.2%. Ovintiv’s dividend payout ratio (DPR) is currently 24.79%.

Analyst Ratings Changes

A number of analysts recently commented on OVV shares. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. William Blair assumed coverage on shares of Ovintiv in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 price objective for the company. Roth Mkm boosted their target price on shares of Ovintiv from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Citigroup dropped their target price on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Ovintiv in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.76.

About Ovintiv

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.