Fisher Asset Management LLC Has $17.33 Million Stock Position in Ovintiv Inc. $OVV

Fisher Asset Management LLC decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 442,296 shares of the company’s stock after selling 21,145 shares during the period. Fisher Asset Management LLC’s holdings in Ovintiv were worth $17,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Fiduciary Financial Group LLC boosted its position in Ovintiv by 3.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company’s stock valued at $371,000 after purchasing an additional 297 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Ovintiv by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company’s stock valued at $599,000 after purchasing an additional 340 shares during the last quarter. IFP Advisors Inc boosted its position in Ovintiv by 58.4% during the third quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock valued at $54,000 after purchasing an additional 494 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Ovintiv by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 26,203 shares of the company’s stock worth $1,058,000 after buying an additional 495 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Ovintiv by 0.9% in the third quarter. Illinois Municipal Retirement Fund now owns 58,640 shares of the company’s stock worth $2,368,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity

In related news, Director Howard John Mayson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the transaction, the director directly owned 45,780 shares in the company, valued at $2,398,414.20. The trade was a 9.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Meghan Nicole Eilers sold 11,582 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $54.78, for a total value of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares in the company, valued at $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.85% of the company’s stock.

Ovintiv Price Performance

NYSE OVV opened at $55.72 on Thursday. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $63.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $15.66 billion, a PE ratio of 17.97 and a beta of 0.57. The stock has a 50-day simple moving average of $58.01 and a 200 day simple moving average of $48.34.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Monday, May 11th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.15. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%.The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Research analysts anticipate that Ovintiv Inc. will post 8.5 EPS for the current year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, June 15th. Ovintiv’s payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group reduced their price target on Ovintiv from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Weiss Ratings cut Ovintiv from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Citigroup reaffirmed a “neutral” rating and issued a $62.00 price target (up from $52.00) on shares of Ovintiv in a research report on Monday, March 30th. Morgan Stanley assumed coverage on Ovintiv in a research report on Friday, March 27th. They issued an “equal weight” rating and a $68.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on Ovintiv from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Ovintiv Company 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.