Ovintiv Inc. $OVV Shares Purchased by UBS Group AG

Key Points

• UBS Group AG increased its stake in Ovintiv by 8.3% in Q4 to 997,177 shares (about $39.1M), while institutional and hedge funds now own roughly 83.8% of the company.
• Ovintiv beat Q4 EPS, reporting $1.39 per share versus $0.98 expected on $1.89B of revenue, and it recently declared a quarterly dividend of $0.30 (annualized $1.20, ~2.1% yield).
• Insider sales were reported recently: EVP Meghan Eilers sold 11,582 shares and director Howard Mayson sold 5,000 shares, leaving insiders with about 0.85% ownership.

UBS Group AG increased its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 997,177 shares of the company's stock after acquiring an additional 76,846 shares during the quarter. UBS Group AG owned about 0.39% of Ovintiv worth $39,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OVV. McIlrath & Eck LLC acquired a new stake in Ovintiv during the 3rd quarter worth $31,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Ovintiv during the 3rd quarter worth $36,000. Quent Capital LLC acquired a new stake in Ovintiv during the 3rd quarter worth $37,000. Flagship Harbor Advisors LLC acquired a new stake in Ovintiv during the 4th quarter worth $38,000. Finally, IFP Advisors Inc raised its stake in Ovintiv by 58.4% during the 3rd quarter. IFP Advisors Inc now owns 1,340 shares of the company's stock worth $54,000 after acquiring an additional 494 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the business's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president directly owned 54,092 shares in the company, valued at $2,963,159.76. The trade was a 17.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard John Mayson sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the transaction, the director owned 45,780 shares in the company, valued at approximately $2,398,414.20. This trade represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.85% of the company's stock.

Ovintiv Stock Down 2.6%

Shares of NYSE:OVV opened at $58.32 on Friday. Ovintiv Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $63.46. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm's 50-day simple moving average is $56.34 and its 200-day simple moving average is $46.22. The company has a market cap of $16.52 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.01 and a beta of 0.57.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business posted ($0.23) earnings per share. As a group, equities research analysts predict that Ovintiv Inc. will post 6.35 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, March 13th. Ovintiv's payout ratio is 24.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Roth Mkm lifted their price target on shares of Ovintiv from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Morgan Stanley started coverage on shares of Ovintiv in a research report on Friday, March 27th. They set an "equal weight" rating and a $68.00 price objective on the stock. Jefferies Financial Group reissued a "buy" rating and set a $54.00 price objective on shares of Ovintiv in a research report on Saturday, January 17th. Citigroup reissued a "neutral" rating and set a $62.00 price objective (up from $52.00) on shares of Ovintiv in a research report on Monday, March 30th. Finally, Royal Bank Of Canada raised their price objective on shares of Ovintiv from $55.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.42.

About Ovintiv

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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