Ovintiv Inc. (NYSE:OVV) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC reduced its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,780 shares of the company’s stock after selling 6,665 shares during the quarter. River Road Asset Management LLC owned 0.13% of Ovintiv worth $15,099,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in OVV. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock valued at $1,285,816,000 after acquiring an additional 2,484,554 shares in the last quarter. FMR LLC lifted its stake in shares of Ovintiv by 2.3% during the third quarter. FMR LLC now owns 22,877,626 shares of the company’s stock worth $1,088,289,000 after purchasing an additional 507,562 shares in the last quarter. State Street Corp boosted its position in shares of Ovintiv by 38.8% in the second quarter. State Street Corp now owns 9,748,971 shares of the company’s stock worth $371,143,000 after buying an additional 2,724,998 shares during the period. Smead Capital Management Inc. grew its stake in shares of Ovintiv by 2.5% in the third quarter. Smead Capital Management Inc. now owns 5,524,515 shares of the company’s stock valued at $262,801,000 after buying an additional 136,016 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Ovintiv by 63.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,950,457 shares of the company’s stock valued at $213,604,000 after buying an additional 1,530,397 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the subject of a number of analyst reports. Citigroup upped their price target on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Scotiabank decreased their target price on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Jefferies Financial Group raised their price target on shares of Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, April 12th. Mizuho reiterated a “buy” rating and issued a $58.00 price objective on shares of Ovintiv in a report on Thursday, April 4th. Finally, Wells Fargo & Company lowered their target price on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

Insider Buying and Selling at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares in the company, valued at approximately $1,862,630.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the completion of the sale, the executive vice president now directly owns 23,672 shares in the company, valued at $1,206,325.12. The disclosure for this sale can be found here. Insiders sold a total of 91,564 shares of company stock worth $4,660,818 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $51.75 on Thursday. The business has a 50 day simple moving average of $49.62 and a 200-day simple moving average of $46.32. Ovintiv Inc. has a twelve month low of $32.07 and a twelve month high of $55.95. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 6.56 and a beta of 2.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. As a group, equities research analysts expect that Ovintiv Inc. will post 6.36 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. Ovintiv’s dividend payout ratio is currently 15.21%.

About Ovintiv

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.