Universal Beteiligungs und Servicegesellschaft mbH Sells 51,242 Shares of Ovintiv Inc. $OVV
by Teresa Graham · The Cerbat GemUniversal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Ovintiv Inc. (NYSE:OVV – Free Report) by 32.5% during the fourth quarter, Holdings Channel reports. The firm owned 106,522 shares of the company’s stock after selling 51,242 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Ovintiv were worth $4,197,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ovintiv by 43.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,344 shares of the company’s stock valued at $4,128,000 after purchasing an additional 32,157 shares during the period. GF Fund Management CO. LTD. lifted its position in Ovintiv by 6.7% during the fourth quarter. GF Fund Management CO. LTD. now owns 75,199 shares of the company’s stock valued at $2,947,000 after purchasing an additional 4,724 shares during the period. BCS Private Wealth Management Inc. bought a new position in Ovintiv during the fourth quarter valued at approximately $976,000. Farther Finance Advisors LLC lifted its position in Ovintiv by 117.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,009 shares of the company’s stock valued at $392,000 after purchasing an additional 5,409 shares during the period. Finally, Foundation Resource Management Inc. lifted its position in Ovintiv by 2.9% during the fourth quarter. Foundation Resource Management Inc. now owns 94,221 shares of the company’s stock valued at $3,693,000 after purchasing an additional 2,698 shares during the period. Institutional investors own 83.81% of the company’s stock.
Ovintiv Stock Up 4.6%
Shares of OVV stock opened at $61.12 on Thursday. Ovintiv Inc. has a 12 month low of $32.91 and a 12 month high of $62.60. The stock has a market cap of $17.32 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.86 and a beta of 0.59. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $55.52 and a two-hundred day simple moving average of $45.49.
Ovintiv (NYSE:OVV – Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned ($0.23) earnings per share. On average, research analysts expect that Ovintiv Inc. will post 6.52 earnings per share for the current year.
Ovintiv Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.0%. Ovintiv’s dividend payout ratio is 24.79%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on OVV shares. Truist Financial increased their price objective on shares of Ovintiv from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Wall Street Zen upgraded shares of Ovintiv from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Stephens upgraded shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Scotiabank upped their target price on shares of Ovintiv from $58.00 to $65.00 and gave the company a “sector outperform” rating in a report on Thursday, March 19th. Finally, Barclays upped their target price on shares of Ovintiv from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Ovintiv has an average rating of “Moderate Buy” and an average target price of $60.42.
Read Our Latest Research Report on Ovintiv
Insiders Place Their Bets
In other news, Director Howard John Mayson sold 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the completion of the sale, the director directly owned 45,780 shares of the company’s stock, valued at $2,398,414.20. This represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Meghan Nicole Eilers sold 11,582 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the completion of the sale, the executive vice president directly owned 54,092 shares of the company’s stock, valued at approximately $2,963,159.76. This trade represents a 17.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.85% of the company’s stock.
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.
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