400,800 Shares in Ovintiv Inc. $OVV Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 400,800 shares of the company’s stock, valued at approximately $21,102,000. Ceredex Value Advisors LLC owned 0.15% of Ovintiv as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OVV. Steph & Co. acquired a new position in shares of Ovintiv in the 1st quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ovintiv in the second quarter valued at approximately $32,000. Root Financial Partners LLC boosted its stake in Ovintiv by 43.2% in the 1st quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock worth $54,000 after purchasing an additional 277 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Ovintiv during the fourth quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators boosted its position in Ovintiv by 27.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock worth $52,000 after acquiring an additional 287 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ovintiv news, EVP Rachel Maureen Moore sold 7,753 shares of Ovintiv stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total value of $490,919.96. Following the completion of the sale, the executive vice president directly owned 72,530 shares in the company, valued at approximately $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OVV has been the subject of several analyst reports. Morgan Stanley set a $67.00 price objective on Ovintiv in a report on Wednesday. Wall Street Zen upgraded shares of Ovintiv from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. National Bank Financial increased their target price on Ovintiv from $82.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Mizuho raised their price target on shares of Ovintiv from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded Ovintiv from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $66.89.

Ovintiv Stock Performance

Shares of OVV stock opened at $66.69 on Friday. Ovintiv Inc. has a 12 month low of $35.47 and a 12 month high of $67.39. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of 18.84 and a beta of 0.53. The business’s 50-day moving average price is $57.95 and its 200-day moving average price is $56.12.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.20). Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.37 billion. Equities research analysts forecast that Ovintiv Inc. will post 6.83 EPS for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, September 15th. Ovintiv’s dividend payout ratio (DPR) is presently 33.90%.

Ovintiv 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.