Modus Advisors LLC Has $2.38 Million Position in Ovintiv Inc. $OVV

Modus Advisors LLC lowered its position in shares of Ovintiv Inc. (NYSE:OVV) by 41.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,768 shares of the company’s stock after selling 43,503 shares during the quarter. Modus Advisors LLC’s holdings in Ovintiv were worth $2,381,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Ovintiv by 263.8% in the third quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock valued at $199,866,000 after buying an additional 3,589,030 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ovintiv by 25.8% in the third quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company’s stock valued at $379,165,000 after buying an additional 1,927,193 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Ovintiv in the second quarter valued at approximately $41,701,000. Two Sigma Investments LP lifted its stake in Ovintiv by 1,393.1% in the third quarter. Two Sigma Investments LP now owns 760,924 shares of the company’s stock valued at $30,726,000 after buying an additional 709,962 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Ovintiv by 12.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,888,500 shares of the company’s stock valued at $237,747,000 after buying an additional 649,819 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Down 4.3%

Shares of Ovintiv stock opened at $56.74 on Friday. The business has a fifty day simple moving average of $58.05 and a two-hundred day simple moving average of $49.19. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $63.46. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 18.30 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.56 and a quick ratio of 0.56.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Monday, May 11th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.85 by $0.15. Ovintiv had a net margin of 8.51% and a return on equity of 13.14%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Research analysts forecast that Ovintiv Inc. will post 8.15 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 15th. Ovintiv’s dividend payout ratio is 38.71%.

Analyst Ratings Changes

Several research firms have commented on OVV. The Goldman Sachs Group boosted their target price on Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. National Bank Financial lifted their price objective on shares of Ovintiv from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Citigroup reiterated a “neutral” rating and issued a $62.00 price objective (up from $52.00) on shares of Ovintiv in a report on Monday, March 30th. Weiss Ratings downgraded shares of Ovintiv from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley initiated coverage on shares of Ovintiv in a report on Friday, March 27th. They issued an “equal weight” rating and a $68.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Activity

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the stock in a transaction on 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 directly owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

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.