J. Goldman & Co LP Makes New $495,000 Investment in Ovintiv Inc. $OVV

J. Goldman & Co LP acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,400 shares of the company’s stock, valued at approximately $495,000.

Several other large investors have also modified their holdings of the company. UBS Group AG raised its holdings in shares of Ovintiv by 8.3% in the fourth quarter. UBS Group AG now owns 997,177 shares of the company’s stock valued at $39,079,000 after buying an additional 76,846 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Ovintiv by 317.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 187,800 shares of the company’s stock worth $7,373,000 after buying an additional 142,800 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Ovintiv during the fourth quarter worth about $5,045,000. Pacific Heights Asset Management LLC increased its position in Ovintiv by 23.7% in the 4th quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the company’s stock valued at $23,514,000 after acquiring an additional 115,000 shares during the period. Finally, PensionDanmark Pensionsforsikringsaktieselskab acquired a new position in Ovintiv in the 2nd quarter valued at about $4,738,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ovintiv

In related news, EVP Rachel Maureen Moore sold 7,753 shares of Ovintiv stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total value of $490,919.96. Following the sale, the executive vice president directly owned 72,530 shares in the company, valued at $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by company insiders.

Ovintiv Trading Up 0.1%

NYSE OVV opened at $64.48 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $17.76 billion, a P/E ratio of 18.21 and a beta of 0.53. Ovintiv Inc. has a 52-week low of $35.47 and a 52-week high of $67.44. The firm has a 50-day moving average price of $58.81 and a 200 day moving average price of $56.72.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts expect that Ovintiv Inc. will post 7.09 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Ovintiv’s dividend payout ratio (DPR) is currently 33.90%.

Analyst Ratings Changes

Several analysts have commented on OVV shares. Mizuho upped their price objective on Ovintiv from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Truist Financial reissued a “buy” rating and issued a $73.00 target price (up from $66.00) on shares of Ovintiv in a report on Monday, July 27th. UBS Group upped their price target on Ovintiv from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Texas Capital raised Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Royal Bank Of Canada increased their price target on Ovintiv from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.89.

About Ovintiv

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.