Yorktown Management & Research Co Inc Sells 6,200 Shares of Ovintiv Inc. (NYSE:OVV)

Yorktown Management & Research Co Inc reduced its position in Ovintiv Inc. (NYSE:OVV) by 37.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,300 shares of the company’s stock after selling 6,200 shares during the quarter. Yorktown Management & Research Co Inc’s holdings in Ovintiv were worth $452,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ovintiv by 10.1% during the third quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after buying an additional 2,484,554 shares during the last quarter. FMR LLC grew its stake in shares of 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 acquiring an additional 507,562 shares in the last quarter. State Street Corp grew its stake in shares of Ovintiv by 38.8% in the 2nd quarter. State Street Corp now owns 9,748,971 shares of the company’s stock worth $371,143,000 after acquiring an additional 2,724,998 shares in the last quarter. Smead Capital Management Inc. grew its stake in shares of Ovintiv by 2.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,524,515 shares of the company’s stock worth $262,801,000 after acquiring an additional 136,016 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Ovintiv by 63.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,950,457 shares of the company’s stock worth $213,604,000 after acquiring an additional 1,530,397 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Price Performance

OVV traded down $0.64 on Tuesday, reaching $54.71. The company had a trading volume of 1,062,512 shares, compared to its average volume of 3,161,195. The business has a 50 day simple moving average of $47.97 and a 200 day simple moving average of $46.00. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 7.02 and a beta of 2.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $55.66.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. As a group, sell-side analysts anticipate that Ovintiv Inc. will post 6.03 EPS for the current year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OVV. Wells Fargo & Company reduced their target price on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. The Goldman Sachs Group increased their price target on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Morgan Stanley increased their price target on shares of Ovintiv from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Royal Bank of Canada increased their price target on shares of Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Finally, Citigroup increased their price target on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Activity at Ovintiv

In related news, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total value of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total value of $3,886,413.44. Following the transaction, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders have sold a total of 91,564 shares of company stock worth $4,660,818 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

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. 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.