Key Points
- Director sale: Howard John Mayson sold 5,000 Ovintiv shares on March 3 at an average of $52.39 for $261,950, cutting his stake by 9.85% to 45,780 shares as disclosed in an SEC filing.
- Earnings and dividend: Ovintiv beat quarterly EPS estimates ($1.39 vs. $0.98) and announced a $0.30 quarterly dividend (annualized $1.20, ~2.3% yield) with an ex-dividend date of March 13.
- Market and sentiment: The stock trades near $52.80 with a market cap around $15B and P/E ~10.9; analysts hold a "Moderate Buy" consensus target of $52.88 and several large hedge funds have recently increased positions.
Ovintiv Inc. (NYSE:OVV - Get Free Report) Director Howard John Mayson sold 5,000 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was 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 trade represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ovintiv Trading Up 0.4%
NYSE OVV traded up $0.20 during trading hours on Friday, reaching $52.83. The company had a trading volume of 1,848,543 shares, compared to its average volume of 4,925,774. The stock has a 50-day moving average of $44.00 and a 200 day moving average of $41.17. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $53.31. 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 stock has a market capitalization of $14.97 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.80 and a beta of 0.69.
Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.During the same quarter in the prior year, the company earned ($0.23) earnings per share. As a group, research analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.
Ovintiv Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 13th. Ovintiv's dividend payout ratio is 24.79%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on OVV shares. Citigroup reduced their price target on shares of Ovintiv from $54.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, November 18th. JPMorgan Chase & Co. started coverage on Ovintiv in a research report on Wednesday, February 25th. They set an "overweight" rating and a $58.00 price objective for the company. Stephens raised Ovintiv to a "hold" rating in a research note on Tuesday, February 3rd. TD Cowen raised shares of Ovintiv to a "strong-buy" rating in a research note on Monday, February 9th. Finally, Barclays raised their price objective on shares of Ovintiv from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.88.
View Our Latest Research Report on Ovintiv
Hedge Funds Weigh In On Ovintiv
A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Ovintiv by 263.8% during the 3rd quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company's stock valued at $199,866,000 after buying an additional 3,589,030 shares during the last quarter. Millennium Management LLC grew its stake in Ovintiv by 116.3% in the 4th quarter. Millennium Management LLC now owns 5,692,806 shares of the company's stock valued at $223,101,000 after buying an additional 3,060,691 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Ovintiv by 143.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,739,237 shares of the company's stock worth $142,278,000 after acquiring an additional 2,205,233 shares during the period. Dimensional Fund Advisors LP lifted its position in Ovintiv by 25.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company's stock worth $379,165,000 after acquiring an additional 1,927,193 shares during the last quarter. Finally, Goldentree Asset Management LP bought a new position in shares of Ovintiv in the fourth quarter worth about $61,528,000. 83.81% of the stock is owned by institutional investors and hedge funds.
About Ovintiv
(
Get Free Report)
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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