Sanctuary Advisors LLC Purchases Shares of 14,151 Ovintiv Inc. $OVV

Sanctuary Advisors LLC acquired a new stake in Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,151 shares of the company’s stock, valued at approximately $745,000.

A number of other hedge funds have also recently made changes to their positions in OVV. BlackRock Inc. bought a new stake in Ovintiv during the 2nd quarter valued at approximately $1,422,959,000. AQR Capital Management LLC lifted its holdings in Ovintiv by 263.8% in the 3rd quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock worth $199,866,000 after purchasing an additional 3,589,030 shares in the last quarter. Millennium Management LLC boosted its stake in Ovintiv by 116.3% in the 4th quarter. Millennium Management LLC now owns 5,692,806 shares of the company’s stock worth $223,101,000 after purchasing an additional 3,060,691 shares during the period. Bank of New York Mellon Corp bought a new position in Ovintiv in the 2nd quarter worth approximately $124,308,000. Finally, Dimensional Fund Advisors LP grew its holdings in Ovintiv by 17.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,059,334 shares of the company’s stock valued at $433,418,000 after buying an additional 1,669,469 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OVV shares. Barclays lifted their price objective on shares of Ovintiv from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. UBS Group raised their target price on shares of Ovintiv from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company reduced their price target on shares of Ovintiv from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Texas Capital upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Thursday, June 25th. Finally, Scotiabank upgraded shares of Ovintiv from an “outperform” rating to a “buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.89.

Insider Activity at Ovintiv

In other news, EVP Rachel Maureen Moore sold 7,753 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total value of $490,919.96. Following the sale, the executive vice president directly owned 72,530 shares in the company, valued at $4,592,599.60. The trade was a 9.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is owned by insiders.

Ovintiv Stock Down 0.9%

Shares of OVV opened at $64.59 on Friday. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 18.25 and a beta of 0.53. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $67.44. The business’s 50 day simple moving average is $59.32 and its 200-day simple moving average is $56.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01.

Ovintiv (NYSE:OVV) last posted its earnings results on Thursday, July 23rd. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, equities analysts expect that Ovintiv Inc. will post 7.09 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Ovintiv’s dividend payout ratio (DPR) is presently 33.90%.

Ovintiv Company 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.