Unison Advisors LLC Buys Shares of 17,284 Ovintiv Inc. $OVV

Unison Advisors LLC purchased a new position in Ovintiv Inc. (NYSE:OVV) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 17,284 shares of the company’s stock, valued at approximately $677,000.

A number of other large investors also recently modified their holdings of OVV. Citigroup Inc. increased its position in Ovintiv by 42.1% during the third quarter. Citigroup Inc. now owns 174,090 shares of the company’s stock worth $7,030,000 after acquiring an additional 51,562 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Ovintiv by 296.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,012 shares of the company’s stock valued at $3,134,000 after purchasing an additional 59,069 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Ovintiv in the 3rd quarter valued at $1,816,000. Moody Aldrich Partners LLC grew its position in Ovintiv by 152.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 140,423 shares of the company’s stock worth $5,670,000 after purchasing an additional 84,730 shares during the last quarter. Finally, Savant Capital LLC grew its position in Ovintiv by 412.9% in the 3rd quarter. Savant Capital LLC now owns 36,771 shares of the company’s stock worth $1,485,000 after purchasing an additional 29,602 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Trading Down 0.1%

OVV stock opened at $59.13 on Monday. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $62.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $51.47 and its 200-day moving average is $43.52. The firm has a market cap of $16.75 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.12 and a beta of 0.59.

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

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.0%. Ovintiv’s dividend payout ratio (DPR) is presently 24.79%.

Analyst Ratings Changes

Several research firms have recently issued reports on OVV. Jefferies Financial Group restated a “buy” rating and set a $54.00 price objective on shares of Ovintiv in a report on Saturday, January 17th. The Goldman Sachs Group lifted their target price on Ovintiv from $49.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Mizuho boosted their price target on Ovintiv from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. National Bank Financial upped their price target on Ovintiv from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, TD Cowen raised their price objective on Ovintiv from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.16.

Insiders Place Their Bets

In related news, Director Howard John Mayson sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the completion of the sale, the director owned 45,780 shares in the company, valued at $2,398,414.20. This trade represents a 9.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Meghan Nicole Eilers sold 11,582 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the sale, the executive vice president owned 54,092 shares of the company’s stock, valued at $2,963,159.76. This trade represents a 17.64% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is currently owned by company insiders.

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.