Ovintiv Inc. $OVV Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its position in Ovintiv Inc. (NYSE:OVV) by 8.3% in the 3rd quarter, Holdings Channel reports. The fund owned 790,602 shares of the company’s stock after selling 71,849 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ovintiv were worth $31,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Burney Co. raised its stake in Ovintiv by 690.5% during the second quarter. Burney Co. now owns 67,091 shares of the company’s stock worth $2,553,000 after purchasing an additional 58,604 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ovintiv by 11.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 241,568 shares of the company’s stock worth $9,192,000 after purchasing an additional 23,968 shares during the period. Lifestyle Asset Management Inc. raised its holdings in shares of Ovintiv by 46.8% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company’s stock worth $1,072,000 after purchasing an additional 8,987 shares during the period. Moody Aldrich Partners LLC lifted its stake in shares of Ovintiv by 152.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 140,423 shares of the company’s stock valued at $5,670,000 after purchasing an additional 84,730 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Ovintiv by 303.9% during the 1st quarter. Inspire Investing LLC now owns 25,731 shares of the company’s stock worth $1,101,000 after purchasing an additional 19,361 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, COO Gregory Dean Givens sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on OVV. Zacks Research raised shares of Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Roth Capital started coverage on shares of Ovintiv in a research note on Monday, October 13th. They issued a “neutral” rating and a $42.00 target price on the stock. Mizuho reduced their target price on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. National Bankshares lowered their price target on Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Finally, Citigroup cut their price objective on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.89.

Ovintiv Stock Performance

Shares of OVV stock opened at $36.99 on Thursday. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 1.81 and a beta of 0.76. Ovintiv Inc. has a one year low of $29.80 and a one year high of $46.35. The company’s 50-day simple moving average is $39.13 and its 200-day simple moving average is $39.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.45 and a current ratio of 0.45.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%.The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Equities analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. Ovintiv’s payout ratio is 131.87%.

Ovintiv 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.