Healthcare of Ontario Pension Plan Trust Fund Takes Position in Ovintiv Inc. (NYSE:OVV)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Ovintiv Inc. (NYSE:OVV) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 82,900 shares of the company’s stock, valued at approximately $4,303,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ceredex Value Advisors LLC bought a new position in shares of Ovintiv during the 4th quarter valued at about $67,149,000. Balyasny Asset Management L.P. raised its stake in shares of Ovintiv by 1,560.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock valued at $63,738,000 after purchasing an additional 1,363,865 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 3.8% in the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock valued at $1,456,072,000 after purchasing an additional 1,024,931 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Ovintiv by 2,602.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock worth $31,410,000 after buying an additional 688,690 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Ovintiv by 6,830.6% in the 1st quarter. SG Americas Securities LLC now owns 411,054 shares of the company’s stock valued at $21,334,000 after buying an additional 405,123 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Howard John Mayson sold 4,000 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the sale, the director now owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Steven W. Nance sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $50.00, for a total value of $600,000.00. Following the transaction, the director now directly owns 8,929 shares in the company, valued at $446,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard John Mayson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV stock opened at $45.85 on Friday. The business’s 50-day moving average price is $47.65 and its 200-day moving average price is $47.95. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 7.49 and a beta of 2.63. Ovintiv Inc. has a 12 month low of $39.68 and a 12 month high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, May 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. Equities research analysts forecast that Ovintiv Inc. will post 5.7 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. Ovintiv’s dividend payout ratio (DPR) is currently 16.76%.

Analyst Ratings Changes

OVV has been the subject of several analyst reports. Barclays started coverage on Ovintiv in a report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 price objective for the company. Morgan Stanley boosted their target price on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group boosted their target price on Ovintiv from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Wolfe Research assumed coverage on Ovintiv in a research note on Thursday, July 18th. They set an “outperform” rating and a $65.00 target price on the stock. Finally, Jefferies Financial Group raised their target price on shares of Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.33.

Ovintiv Profile

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.