Thrivent Financial for Lutherans Has $5.43 Million Stock Holdings in Ovintiv Inc. $OVV

Thrivent Financial for Lutherans lowered its stake in Ovintiv Inc. (NYSE:OVV) by 13.5% during the second quarter, Holdings Channel.com reports. The fund owned 142,751 shares of the company’s stock after selling 22,252 shares during the period. Thrivent Financial for Lutherans’ holdings in Ovintiv were worth $5,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IFP Advisors Inc grew its stake in Ovintiv by 316.7% in the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after purchasing an additional 643 shares in the last quarter. Dogwood Wealth Management LLC acquired a new stake in shares of Ovintiv in the 2nd quarter valued at approximately $35,000. MAI Capital Management increased its holdings in Ovintiv by 174.6% during the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock worth $45,000 after buying an additional 744 shares during the last quarter. SVB Wealth LLC bought a new stake in Ovintiv during the first quarter worth $48,000. Finally, Smartleaf Asset Management LLC raised its position in Ovintiv by 43.4% during the first quarter. Smartleaf Asset Management LLC now owns 1,154 shares of the company’s stock worth $49,000 after acquiring an additional 349 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Ovintiv

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the transaction, the chief operating officer owned 105,867 shares in the company, valued at $4,269,616.11. This represents a 32.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Ovintiv Stock Performance

NYSE:OVV opened at $37.36 on Friday. The stock has a 50 day simple moving average of $38.72 and a 200 day simple moving average of $39.82. The stock has a market cap of $9.46 billion, a P/E ratio of 41.06, a PEG ratio of 1.62 and a beta of 0.77. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $46.35. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%. Research analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.30 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 3.2%. Ovintiv’s payout ratio is 131.87%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Morgan Stanley dropped their price objective on Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Evercore ISI reiterated an “outperform” rating and set a $47.00 target price on shares of Ovintiv in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.89.

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.