Robeco Institutional Asset Management B.V. Sells 28,235 Shares of Ovintiv Inc. (NYSE:OVV)

Posted by Defense World Staff on Oct 14th, 2023

Robeco Institutional Asset Management B.V. lowered its stake in Ovintiv Inc. (NYSE:OVV – Free Report) by 45.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,522 shares of the company’s stock after selling 28,235 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ovintiv were worth $1,314,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. HM Payson & Co. bought a new stake in shares of Ovintiv during the 2nd quarter valued at $27,000. ICA Group Wealth Management LLC bought a new stake in shares of Ovintiv during the 4th quarter valued at $41,000. OLD Mission Capital LLC bought a new stake in shares of Ovintiv during the 4th quarter valued at $45,000. Harbour Investments Inc. boosted its holdings in shares of Ovintiv by 124.6% during the 4th quarter. Harbour Investments Inc. now owns 923 shares of the company’s stock valued at $47,000 after buying an additional 512 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Ovintiv by 62.5% during the 1st quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock valued at $34,000 after buying an additional 358 shares in the last quarter. Institutional investors own 98.30% of the company’s stock.

Analyst Ratings Changes

OVV has been the topic of a number of research reports. UBS Group boosted their target price on shares of Ovintiv from $62.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Wells Fargo & Company lifted their price target on Ovintiv from $36.00 to $39.00 in a research report on Friday, July 7th. National Bankshares lifted their price target on Ovintiv from $59.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday. National Bank Financial lifted their price target on Ovintiv from $59.00 to $69.00 in a research report on Thursday. Finally, Evercore ISI lowered their price target on Ovintiv from $42.00 to $39.00 in a research report on Monday, July 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $58.70.

View Our Latest Research Report on OVV

Ovintiv Price Performance

NYSE OVV opened at $49.85 on Friday. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $59.10. The firm has a market capitalization of $13.65 billion, a P/E ratio of 3.77, a PEG ratio of 0.50 and a beta of 2.76. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $47.34 and a 200-day moving average price of $40.98.

Ovintiv (NYSE:OVV – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Ovintiv had a net margin of 28.27% and a return on equity of 16.27%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.11 billion. Equities research analysts anticipate that Ovintiv Inc. will post 6.5 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, September 14th. Ovintiv’s payout ratio is currently 9.06%.

Insider Activity at Ovintiv

In related news, Director Steven W. Nance sold 1,201 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $48.65, for a total transaction of $58,428.65. Following the completion of the transaction, the director now directly owns 20,929 shares in the company, valued at approximately $1,018,195.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Ovintiv Profile

(Free Report)

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