Ovintiv Inc. $OVV Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 43.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,142 shares of the company’s stock after selling 10,777 shares during the quarter. Neuberger Berman Group LLC’s holdings in Ovintiv were worth $571,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its stake in Ovintiv by 143.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,739,237 shares of the company’s stock valued at $142,278,000 after buying an additional 2,205,233 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Ovintiv by 25.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company’s stock worth $379,165,000 after acquiring an additional 1,927,193 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of Ovintiv in the 3rd quarter worth $60,866,000. Qube Research & Technologies Ltd purchased a new stake in shares of Ovintiv in the second quarter valued at about $41,701,000. Finally, Orion Porfolio Solutions LLC boosted its holdings in shares of Ovintiv by 1,599.3% in the second quarter. Orion Porfolio Solutions LLC now owns 651,038 shares of the company’s stock valued at $24,772,000 after acquiring an additional 612,725 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OVV has been the subject of several analyst reports. Barclays increased their price target on shares of Ovintiv from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $55.00 target price on shares of Ovintiv in a research report on Thursday, February 19th. TD Cowen raised Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Stephens upgraded Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.88.

Ovintiv Stock Down 0.7%

Shares of NYSE OVV opened at $52.25 on Monday. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 2.83 and a beta of 0.69. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $53.31. The firm has a 50-day moving average price of $44.29 and a 200 day moving average price of $41.30. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.

Ovintiv (NYSE:OVV) last issued its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.41. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business posted ($0.23) earnings per share. Equities research analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. Ovintiv’s dividend payout ratio is currently 24.79%.

Insider Buying and Selling

In related news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.33, for a total value of $2,016,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,867 shares of the company’s stock, valued at $4,269,616.11. This trade represents a 32.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of Ovintiv stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total value of $261,950.00. Following the transaction, the director directly owned 45,780 shares of the company’s stock, valued at approximately $2,398,414.20. This represents a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.70% of the company’s stock.

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.