Vise Technologies Inc. Acquires Shares of 23,674 Ovintiv Inc. $OVV

Vise Technologies Inc. bought a new position in shares of Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,674 shares of the company’s stock, valued at approximately $1,246,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in Ovintiv by 70.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock worth $391,000 after acquiring an additional 3,788 shares during the period. Great Lakes Advisors LLC purchased a new position in Ovintiv in the first quarter worth $202,000. Focus Partners Wealth grew its stake in Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock valued at $825,000 after purchasing an additional 6,364 shares during the period. Geneos Wealth Management Inc. grew its stake in Ovintiv by 47.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock valued at $78,000 after purchasing an additional 589 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ovintiv by 103.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,298 shares of the company’s stock valued at $126,000 after purchasing an additional 1,675 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Ovintiv

In related news, EVP Rachel Maureen Moore sold 7,753 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total transaction of $490,919.96. Following the transaction, the executive vice president directly owned 72,530 shares of the company’s stock, valued at approximately $4,592,599.60. This trade represents a 9.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

Ovintiv Stock Performance

NYSE:OVV opened at $66.87 on Friday. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $67.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. The stock has a market cap of $18.42 billion, a P/E ratio of 18.89 and a beta of 0.53. The business’s 50-day moving average price is $58.14 and its two-hundred day moving average price is $56.20.

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

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 15th. Ovintiv’s dividend payout ratio is presently 33.90%.

Analyst Ratings Changes

OVV has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Ovintiv from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Ovintiv from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. National Bank Financial raised their price objective on shares of Ovintiv from $82.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Citigroup boosted their target price on shares of Ovintiv from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Barclays increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.89.

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.