Ovintiv Inc. (NYSE:OVV - Get Free Report) COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $42.50, for a total value of $2,125,000.00. Following the transaction, the chief operating officer owned 155,867 shares in the company, valued at $6,624,347.50. The trade was a 24.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Ovintiv Trading Down 1.1%
Shares of Ovintiv stock opened at $41.81 on Tuesday. The firm has a 50-day moving average of $38.77 and a 200-day moving average of $39.68. The stock has a market cap of $10.59 billion, a PE ratio of 45.94, a PEG ratio of 1.04 and a beta of 0.77. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $46.35. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, sell-side analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.
Ovintiv Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Ovintiv's dividend payout ratio (DPR) is currently 131.87%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on OVV. Morgan Stanley cut their price target on Ovintiv from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 14th. UBS Group lifted their price objective on Ovintiv from $52.00 to $54.00 and gave the company a "buy" rating in a report on Friday, November 21st. Roth Capital started coverage on Ovintiv in a research report on Monday, October 13th. They set a "neutral" rating and a $42.00 target price for the company. William Blair assumed coverage on Ovintiv in a report on Wednesday, November 26th. They set an "outperform" rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Ovintiv from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.83.
Check Out Our Latest Stock Report on OVV
Institutional Trading of Ovintiv
Several institutional investors and hedge funds have recently modified their holdings of OVV. McIlrath & Eck LLC acquired a new stake in Ovintiv in the third quarter valued at about $31,000. IFP Advisors Inc boosted its stake in shares of Ovintiv by 316.7% in the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company's stock valued at $32,000 after purchasing an additional 643 shares in the last quarter. Dogwood Wealth Management LLC bought a new stake in shares of Ovintiv during the 2nd quarter valued at approximately $35,000. HM Payson & Co. acquired a new position in Ovintiv during the 3rd quarter worth approximately $36,000. Finally, Foster Dykema Cabot & Partners LLC bought a new position in Ovintiv in the 3rd quarter valued at approximately $36,000. 83.81% of the stock is currently owned by institutional investors.
Ovintiv Company Profile
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Get Free Report)
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.
Further Reading
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