Alaska Permanent Fund Corp Has $2.70 Million Stake in Ovintiv Inc. (NYSE:OVV)

Alaska Permanent Fund Corp trimmed its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,525 shares of the company’s stock after selling 275 shares during the period. Alaska Permanent Fund Corp’s holdings in Ovintiv were worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in OVV. SG Americas Securities LLC acquired a new position in Ovintiv during the third quarter worth $440,000. Asset Management One Co. Ltd. boosted its position in Ovintiv by 8.3% during the third quarter. Asset Management One Co. Ltd. now owns 100,725 shares of the company’s stock worth $4,791,000 after purchasing an additional 7,719 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in Ovintiv by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 128,331 shares of the company’s stock worth $6,105,000 after purchasing an additional 468 shares during the period. Modus Advisors LLC boosted its position in Ovintiv by 3.0% during the third quarter. Modus Advisors LLC now owns 95,350 shares of the company’s stock worth $4,536,000 after purchasing an additional 2,813 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Ovintiv by 45.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 50,226 shares of the company’s stock worth $2,389,000 after purchasing an additional 15,704 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on OVV shares. National Bankshares reduced their price objective on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Royal Bank of Canada lifted their price objective on shares of Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. UBS Group lifted their price objective on shares of Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Citigroup boosted their target price on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Morgan Stanley upped their price objective on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Insider Transactions at Ovintiv

In other news, EVP Rachel Maureen Moore sold 9,300 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the transaction, the executive vice president now owns 52,557 shares of the company’s stock, valued at $2,662,012.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.65, for a total value of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares in the company, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock valued at $4,660,818 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Ovintiv Stock Performance

Shares of Ovintiv stock traded down $0.28 during trading on Thursday, hitting $52.62. 213,202 shares of the company’s stock traded hands, compared to its average volume of 3,071,770. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. Ovintiv Inc. has a 1 year low of $32.07 and a 1 year high of $55.95. The stock has a market capitalization of $14.15 billion, a P/E ratio of 6.70 and a beta of 2.65. The business has a 50-day simple moving average of $50.64 and a 200-day simple moving average of $46.58.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. As a group, analysts forecast that Ovintiv Inc. will post 6.13 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

Ovintiv Company Profile

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.