Ovintiv Inc. $OVV Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP boosted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 9.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 738,330 shares of the company’s stock after purchasing an additional 61,273 shares during the period. Systematic Financial Management LP’s holdings in Ovintiv were worth $28,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in Ovintiv during the 3rd quarter worth about $36,000. Flagship Harbor Advisors LLC acquired a new stake in Ovintiv during the 4th quarter worth about $38,000. IFP Advisors Inc grew its position in Ovintiv by 58.4% during the 3rd quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock worth $54,000 after purchasing an additional 494 shares during the period. Advisory Services Network LLC acquired a new stake in Ovintiv during the 3rd quarter worth about $58,000. Finally, CIBC Private Wealth Group LLC grew its position in Ovintiv by 258.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,576 shares of the company’s stock worth $64,000 after purchasing an additional 1,136 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Down 0.2%

OVV stock opened at $58.75 on Friday. The firm has a market cap of $16.51 billion, a PE ratio of 18.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average is $57.89 and its 200 day moving average is $47.85. Ovintiv Inc. has a one year low of $34.99 and a one year high of $63.46.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Monday, May 11th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.15. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Ovintiv had a net margin of 8.51% and a return on equity of 13.14%. On average, research analysts forecast that Ovintiv Inc. will post 8.5 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th. Ovintiv’s dividend payout ratio (DPR) is presently 38.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial dropped their price target on shares of Ovintiv from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Citigroup restated a “neutral” rating and set a $62.00 price target (up from $52.00) on shares of Ovintiv in a research report on Monday, March 30th. TD Cowen raised their price target on shares of Ovintiv from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Bank of America raised their price target on shares of Ovintiv from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.32.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president directly owned 54,092 shares of the company’s stock, valued at $2,963,159.76. This trade represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the transaction, the director directly 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. The SEC filing for this sale provides additional information. Company insiders own 0.85% of the company’s stock.

About Ovintiv

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.