127,290 Shares in Ovintiv Inc. $OVV Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 127,290 Ovintiv shares worth approximately $6.7 million in the second quarter. Institutional investors and hedge funds collectively own 83.81% of the company.
• Analyst sentiment remains positive, with Ovintiv holding a “Moderate Buy” consensus rating and an average price target of $66.89, despite mixed revisions and the company missing its latest quarterly EPS estimate.
• Ovintiv declared a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 1.9% yield. The stock recently opened at $64.59, near its 52-week high of $67.44.

Jupiter Topco LLC acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 127,290 shares of the company's stock, valued at approximately $6,702,000.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp lifted its holdings in shares of Ovintiv by 1.4% during the 4th quarter. Stifel Financial Corp now owns 19,113 shares of the company's stock valued at $749,000 after buying an additional 269 shares during the last quarter. CX Institutional raised its position in Ovintiv by 1.0% during the second quarter. CX Institutional now owns 28,363 shares of the company's stock valued at $1,493,000 after acquiring an additional 276 shares in the last quarter. Root Financial Partners LLC raised its position in Ovintiv by 43.2% during the first quarter. Root Financial Partners LLC now owns 918 shares of the company's stock valued at $54,000 after acquiring an additional 277 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Ovintiv by 27.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company's stock valued at $52,000 after acquiring an additional 287 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in Ovintiv by 2.6% in the first quarter. Sanctuary Advisors LLC now owns 13,020 shares of the company's stock valued at $773,000 after acquiring an additional 324 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ovintiv

In related news, EVP Rachel Maureen Moore sold 7,753 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the sale, the executive vice president owned 72,530 shares in the company, valued at $4,592,599.60. This represents a 9.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several analyst reports. Roth Capital increased their price target on shares of Ovintiv from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Zacks Research cut shares of Ovintiv from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Texas Capital raised shares of Ovintiv to a "strong-buy" rating in a research report on Thursday, June 25th. Wells Fargo & Company cut their target price on Ovintiv from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Finally, Stephens reaffirmed a "positive" rating and issued a $69.00 price target on shares of Ovintiv in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Ovintiv currently has an average rating of "Moderate Buy" and an average price target of $66.89.

Ovintiv Price Performance

NYSE OVV opened at $64.59 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $59.32 and a 200 day simple moving average of $56.97. The company has a market cap of $17.79 billion, a P/E ratio of 18.25 and a beta of 0.53. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $67.44.

Ovintiv (NYSE:OVV - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.20). Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, sell-side analysts predict that Ovintiv Inc. will post 7.09 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. Ovintiv's payout ratio is presently 33.90%.

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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