Foster Group Inc. Sells 80,000 Shares of Ovintiv Inc. $OVV

Foster Group Inc. trimmed its position in shares of Ovintiv Inc. (NYSE:OVV) by 51.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,583 shares of the company’s stock after selling 80,000 shares during the period. Foster Group Inc.’s holdings in Ovintiv were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Ovintiv by 263.8% in the third quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock valued at $199,866,000 after purchasing an additional 3,589,030 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Ovintiv by 143.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,739,237 shares of the company’s stock valued at $142,278,000 after purchasing an additional 2,205,233 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ovintiv by 25.8% during the third quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company’s stock valued at $379,165,000 after purchasing an additional 1,927,193 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Ovintiv during the third quarter valued at $60,866,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Ovintiv in the 2nd quarter worth $41,701,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OVV. Mizuho boosted their target price on shares of Ovintiv from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a report on Monday, December 29th. The Goldman Sachs Group lifted their price target on Ovintiv from $49.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Ovintiv in a research note on Thursday, February 19th. Finally, Barclays upped their price objective on Ovintiv from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.89.

Ovintiv Trading Up 1.9%

OVV stock opened at $60.11 on Thursday. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $60.15. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 2.79 and a beta of 0.69. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $48.72 and its two-hundred day simple moving average is $42.63.

Ovintiv (NYSE:OVV) last released 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. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business earned ($0.23) EPS. As a group, analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, March 13th. Ovintiv’s dividend payout ratio is 24.79%.

Insider Activity

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Howard John Mayson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total value of $261,950.00. Following the completion of the sale, the director owned 45,780 shares in the company, valued at approximately $2,398,414.20. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is owned by company insiders.

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.