12,919 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by Golden State Equity Partners

Golden State Equity Partners purchased a new position in Ovintiv Inc. (NYSE:OVV) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,919 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp raised its stake in Ovintiv by 13.1% during the 4th quarter. Truist Financial Corp now owns 58,504 shares of the company’s stock valued at $2,570,000 after acquiring an additional 6,764 shares in the last quarter. Yousif Capital Management LLC raised its stake in Ovintiv by 6.7% during the 4th quarter. Yousif Capital Management LLC now owns 127,105 shares of the company’s stock valued at $5,582,000 after acquiring an additional 8,016 shares in the last quarter. GAMMA Investing LLC bought a new stake in Ovintiv during the 4th quarter valued at $125,000. Parkside Financial Bank & Trust raised its stake in Ovintiv by 6,428.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,089 shares of the company’s stock valued at $92,000 after acquiring an additional 2,057 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Ovintiv by 18.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 436,086 shares of the company’s stock valued at $19,153,000 after acquiring an additional 68,682 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock worth $4,660,818 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OVV shares. Mizuho reiterated a “buy” rating and set a $58.00 price target on shares of Ovintiv in a research report on Thursday, April 4th. Citigroup lifted their price target on Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Jefferies Financial Group lifted their target price on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company decreased their target price on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Finally, UBS Group lifted their target price on Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Up 0.2 %

Shares of OVV stock traded up $0.12 on Friday, reaching $53.26. 1,139,322 shares of the company’s stock traded hands, compared to its average volume of 2,470,301. Ovintiv Inc. has a 12-month low of $32.07 and a 12-month high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $14.32 billion, a P/E ratio of 6.75 and a beta of 2.65. The business’s 50 day moving average price is $50.99 and its two-hundred day moving average price is $46.65.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. On average, equities analysts forecast that Ovintiv Inc. will post 6.13 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.25%. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

About Ovintiv

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.