Key Points
- Ovintiv COO Gregory Dean Givens sold 100,000 shares in December (50,000 on Dec. 4 at $42.50 and 50,000 on Dec. 12 at $40.33) for roughly $4.14M total, cutting his stake by 32.08% to 105,867 shares.
- Ovintiv declared a quarterly dividend of $0.30 per share, payable Dec. 31 with an ex-dividend date of Dec. 15, implying a 3.1% yield and an annualized $1.20 while the payout ratio sits at a high 131.87%.
- The company beat its most recent quarter estimates (EPS $1.03 vs. $0.97 and revenue $2.07B vs. $1.86B) and carries a consensus "Moderate Buy" analyst rating with an average target of $51.89.
Ovintiv Inc. (NYSE:OVV - Get Free Report) COO Gregory Dean Givens sold 50,000 shares of the business's stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the sale, the chief operating officer directly owned 105,867 shares of the company's stock, valued at $4,269,616.11. This represents a 32.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Gregory Dean Givens also recently made the following trade(s):
- On Thursday, December 4th, Gregory Dean Givens sold 50,000 shares of Ovintiv stock. The stock was sold at an average price of $42.50, for a total transaction of $2,125,000.00.
Ovintiv Trading Down 2.8%
Shares of NYSE:OVV opened at $39.20 on Tuesday. The business's 50 day simple moving average is $38.82 and its 200 day simple moving average is $39.83. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $46.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $9.93 billion, a P/E ratio of 43.07, a P/E/G ratio of 0.99 and a beta of 0.77.
Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.86 billion. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%. On average, research analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.
Ovintiv Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, December 15th. Ovintiv's dividend payout ratio is presently 131.87%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Townsquare Capital LLC increased its position in shares of Ovintiv by 126.9% during the first quarter. Townsquare Capital LLC now owns 11,631 shares of the company's stock worth $498,000 after buying an additional 6,504 shares during the period. Invesco Ltd. grew its holdings in Ovintiv by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,288,162 shares of the company's stock worth $55,133,000 after acquiring an additional 27,472 shares during the period. HighTower Advisors LLC raised its position in shares of Ovintiv by 21.4% in the 1st quarter. HighTower Advisors LLC now owns 19,630 shares of the company's stock worth $840,000 after acquiring an additional 3,455 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of Ovintiv by 6.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 80,252 shares of the company's stock valued at $3,429,000 after purchasing an additional 4,891 shares during the period. Finally, Prudential PLC lifted its stake in shares of Ovintiv by 35.8% in the 1st quarter. Prudential PLC now owns 10,921 shares of the company's stock valued at $467,000 after purchasing an additional 2,881 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.
Wall Street Analysts Forecast Growth
OVV has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $55.00 price target on shares of Ovintiv and gave the stock an "outperform" rating in a report on Wednesday, October 15th. UBS Group upped their target price on Ovintiv from $54.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday. Evercore ISI reaffirmed an "outperform" rating and issued a $47.00 target price on shares of Ovintiv in a report on Thursday, November 6th. Citigroup lowered their price target on Ovintiv from $54.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Ovintiv from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.89.
View Our Latest Report on OVV
Ovintiv Company Profile
(
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.
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