State of Alaska Department of Revenue acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 30,305 shares of the company’s stock, valued at approximately $1,153,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in OVV. HM Payson & Co. bought a new position in shares of Ovintiv during the 2nd quarter valued at $27,000. Belpointe Asset Management LLC grew 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 purchasing an additional 358 shares during the last quarter. Clearstead Advisors LLC bought a new position in shares of Ovintiv during the 1st quarter valued at $41,000. ICA Group Wealth Management LLC bought a new position in shares of Ovintiv during the 4th quarter valued at $41,000. Finally, OLD Mission Capital LLC bought a new position in shares of Ovintiv during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 98.30% of the company’s stock.
Ovintiv Trading Up 2.7 %
Shares of OVV opened at $49.84 on Monday. Ovintiv Inc. has a 1-year low of $32.07 and a 1-year high of $59.10. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 3.76, a PEG ratio of 0.50 and a beta of 2.76. The firm’s 50-day moving average price is $47.34 and its 200-day moving average price is $41.07. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59.
Ovintiv Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.41%. Ovintiv’s dividend payout ratio (DPR) is currently 9.06%.
Wall Street Analyst Weigh In
OVV has been the topic of several recent research reports. Royal Bank of Canada increased their target price on shares of Ovintiv from $47.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, October 10th. Truist Financial raised their price target on shares of Ovintiv from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Wells Fargo & Company raised their price target on shares of Ovintiv from $36.00 to $39.00 in a report on Friday, July 7th. Evercore ISI cut their price target on shares of Ovintiv from $42.00 to $39.00 in a report on Monday, July 10th. Finally, UBS Group raised their price target on shares of Ovintiv from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus target price of $58.70.
View Our Latest Analysis on OVV
Insider Activity at Ovintiv
In related news, Director Steven W. Nance sold 1,201 shares of Ovintiv stock in a transaction dated Thursday, August 3rd. The shares were 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 of the company’s stock, valued at approximately $1,018,195.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
Ovintiv Company Profile
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.
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