Entropy Technologies LP Buys 11,075 Shares of Ovintiv Inc. $OVV

Entropy Technologies LP increased its stake in Ovintiv Inc. (NYSE:OVV) by 10.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,113 shares of the company’s stock after acquiring an additional 11,075 shares during the period. Entropy Technologies LP’s holdings in Ovintiv were worth $4,608,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Ovintiv by 70.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock worth $391,000 after purchasing an additional 3,788 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Ovintiv in the 1st quarter worth approximately $202,000. Focus Partners Wealth lifted its position in Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock worth $825,000 after buying an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Ovintiv by 47.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock worth $78,000 after buying an additional 589 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ovintiv in the second quarter worth approximately $8,057,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 0.3%

Shares of NYSE OVV opened at $54.88 on Friday. The firm’s fifty day moving average is $45.48 and its 200 day moving average is $41.68. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $55.85. 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 company has a market cap of $15.55 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 3.00 and a beta of 0.69.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.41. The business had revenue of $1.89 billion during 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 quarter in the prior year, the company posted ($0.23) EPS. On average, equities research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, March 13th. Ovintiv’s dividend payout ratio is currently 24.79%.

Insider Activity

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 transaction, the director owned 45,780 shares in the company, valued at $2,398,414.20. The trade was a 9.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on OVV. UBS Group lifted their price target on shares of Ovintiv from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. The Goldman Sachs Group increased their target price on shares of Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. National Bank Financial boosted their price target on shares of Ovintiv from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Stephens upgraded shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $54.00 price objective on shares of Ovintiv in a research note on Saturday, January 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $53.53.

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.