Mutual of America Capital Management LLC Buys 5,521 Shares of Ovintiv Inc. (NYSE:OVV)

Mutual of America Capital Management LLC increased its holdings in Ovintiv Inc. (NYSE:OVV) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 330,991 shares of the company’s stock after buying an additional 5,521 shares during the quarter. Mutual of America Capital Management LLC owned about 0.12% of Ovintiv worth $14,537,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OVV. Raymond James & Associates increased its holdings in Ovintiv by 35.3% in the 1st quarter. Raymond James & Associates now owns 57,458 shares of the company’s stock worth $3,107,000 after buying an additional 14,978 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Ovintiv in the first quarter worth about $525,000. HighTower Advisors LLC purchased a new position in Ovintiv in the first quarter worth about $715,000. Cetera Advisor Networks LLC purchased a new position in Ovintiv in the first quarter worth about $224,000. Finally, PNC Financial Services Group Inc. boosted its position in Ovintiv by 45.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,605 shares of the company’s stock worth $843,000 after purchasing an additional 4,895 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was 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 owns 23,672 shares of the company’s stock, valued at approximately $1,206,325.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction 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 approximately $1,862,630.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the completion of the sale, the executive vice president now owns 23,672 shares of the company’s stock, valued at $1,206,325.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,564 shares of company stock valued at $4,660,818. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

OVV has been the topic of several research reports. The Goldman Sachs Group raised their target price on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Morgan Stanley lifted their price objective on Ovintiv from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. National Bankshares lowered their price objective on Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Royal Bank of Canada lifted their price objective on 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 lifted their price objective on Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $54.94.

Ovintiv Price Performance

NYSE:OVV traded down $0.70 during trading hours on Thursday, reaching $54.82. The stock had a trading volume of 263,668 shares, compared to its average volume of 3,145,280. The stock has a market capitalization of $14.74 billion, a PE ratio of 7.04 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. The company has a 50 day moving average price of $48.48 and a two-hundred day moving average price of $46.13. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $55.95.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. As a group, sell-side analysts anticipate that Ovintiv Inc. will post 6.02 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio is currently 15.21%.

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.