Ovintiv Inc. (NYSE:OVV) Shares Sold by LPL Financial LLC


Share on StockTwits

LPL Financial LLC trimmed its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 33,439 shares of the company’s stock after selling 484 shares during the period. LPL Financial LLC’s holdings in Ovintiv were worth $480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in Ovintiv by 3,125.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,064 shares of the company’s stock worth $30,000 after acquiring an additional 2,000 shares during the period. Royal London Asset Management Ltd. bought a new stake in shares of Ovintiv during the 4th quarter valued at about $37,000. Point72 Asset Management L.P. bought a new stake in shares of Ovintiv during the 3rd quarter valued at about $78,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Ovintiv during the 3rd quarter valued at about $104,000. Finally, Profund Advisors LLC grew its position in shares of Ovintiv by 18.5% during the 4th quarter. Profund Advisors LLC now owns 14,831 shares of the company’s stock valued at $213,000 after buying an additional 2,311 shares during the last quarter. 70.04% of the stock is owned by institutional investors and hedge funds.

Shares of OVV opened at $24.21 on Friday. Ovintiv Inc. has a 1-year low of $3.43 and a 1-year high of $28.69. The company has a market cap of $6.29 billion, a price-to-earnings ratio of -1.15 and a beta of 4.00. The company’s fifty day simple moving average is $25.09 and its 200 day simple moving average is $17.51. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.64.

Ovintiv (NYSE:OVV) last announced its earnings results on Wednesday, February 17th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.07. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Ovintiv had a negative net margin of 89.63% and a positive return on equity of 1.56%. As a group, research analysts forecast that Ovintiv Inc. will post 0.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were issued a $0.0938 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.55%. Ovintiv’s dividend payout ratio (DPR) is currently 11.55%.

In other news, EVP Joanne Linette Alexander sold 7,759 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $24.30, for a total value of $188,543.70. 1.28% of the stock is currently owned by corporate insiders.

OVV has been the subject of several recent analyst reports. Tudor Pickering & Holt set a $17.00 target price on shares of Ovintiv and gave the stock a “hold” rating in a research report on Friday, February 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of Ovintiv from $18.00 to $28.00 in a research note on Tuesday, March 23rd. Tudor Pickering raised shares of Ovintiv from an “accumulate” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, March 30th. TD Securities upped their price target on shares of Ovintiv from $18.50 to $24.00 and gave the company a “hold” rating in a research report on Thursday, February 18th. Finally, Royal Bank of Canada upped their price objective on shares of Ovintiv from $18.00 to $23.00 and gave the company a “sector perform” rating in a research note on Thursday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $23.26.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

Recommended Story: Outstanding Shares and The Effect on Share Price

Want to see what other hedge funds are holding OVV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ovintiv Inc. (NYSE:OVV).

Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.