United Services Automobile Association Purchases 2,536 Shares of Ovintiv Inc. (NYSE:OVV)

United Services Automobile Association lifted its position in Ovintiv Inc. (NYSE:OVVFree Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,081 shares of the company’s stock after purchasing an additional 2,536 shares during the period. United Services Automobile Association’s holdings in Ovintiv were worth $838,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in OVV. Vanguard Group Inc. boosted its holdings in Ovintiv by 10.1% in the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock valued at $1,285,816,000 after acquiring an additional 2,484,554 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Ovintiv in the 4th quarter worth about $67,149,000. FMR LLC raised its position in Ovintiv by 2.3% in the 3rd quarter. FMR LLC now owns 22,877,626 shares of the company’s stock worth $1,088,289,000 after buying an additional 507,562 shares during the last quarter. Barclays PLC raised its position in Ovintiv by 49.3% in the 3rd quarter. Barclays PLC now owns 1,267,872 shares of the company’s stock worth $60,313,000 after buying an additional 418,722 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of Ovintiv during the 3rd quarter valued at about $18,097,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Up 0.1 %

Ovintiv stock traded up $0.06 during midday trading on Wednesday, reaching $49.26. The company’s stock had a trading volume of 575,340 shares, compared to its average volume of 2,941,674. The stock’s 50-day simple moving average is $51.71 and its 200-day simple moving average is $46.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 52-week low of $32.49 and a 52-week high of $55.95. The stock has a market capitalization of $13.15 billion, a P/E ratio of 6.87 and a beta of 2.64.

Ovintiv (NYSE:OVVGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.58 billion. On average, sell-side analysts expect that Ovintiv Inc. will post 6.07 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, June 14th. Ovintiv’s dividend payout ratio is currently 16.76%.

Analysts Set New Price Targets

A number of research firms have issued reports on OVV. Morgan Stanley boosted their price target on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. The Goldman Sachs Group upped their price objective on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Barclays assumed coverage on Ovintiv in a report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target on the stock. Jefferies Financial Group increased their price target on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, UBS Group increased their price target on Ovintiv from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.56.

View Our Latest Research Report on Ovintiv

Insider Activity at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the sale, the director now directly owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Steven W. Nance sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now directly owns 8,929 shares in the company, valued at $446,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the sale, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,564 shares of company stock worth $5,260,818. 0.97% of the stock is owned by corporate insiders.

About Ovintiv

(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. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

See Also

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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