Ovintiv Inc. $OVV Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC trimmed its Ovintiv stake by 35.5% in Q4, selling 28,033 shares and ending the quarter with 50,979 shares worth about $1.916 million.
• Insider sales occurred recently: EVP Meghan Nicole Eilers sold 11,582 shares (≈$634,462) and Director Howard John Mayson sold 5,000 shares (≈$261,950), reducing their ownership positions.
• Wall Street is broadly positive—Ovintiv has a consensus rating of “Moderate Buy” with a $59.16 target after several upgrades—and the company recently beat Q4 EPS estimates ($1.39 vs. $0.98) and pays a $0.30 quarterly dividend (~2.0% yield).

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 35.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,979 shares of the company's stock after selling 28,033 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Ovintiv were worth $1,916,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OVV. PNC Financial Services Group Inc. lifted its stake in shares of Ovintiv by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company's stock worth $599,000 after purchasing an additional 340 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of Ovintiv by 0.6% in the third quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company's stock valued at $2,560,000 after purchasing an additional 400 shares during the period. Forum Financial Management LP increased its stake in Ovintiv by 5.2% in the third quarter. Forum Financial Management LP now owns 9,402 shares of the company's stock valued at $380,000 after purchasing an additional 464 shares during the last quarter. IFP Advisors Inc increased its stake in Ovintiv by 58.4% in the third quarter. IFP Advisors Inc now owns 1,340 shares of the company's stock valued at $54,000 after purchasing an additional 494 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Ovintiv by 1.9% during the third quarter. Quadrant Capital Group LLC now owns 26,203 shares of the company's stock worth $1,058,000 after buying an additional 495 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Activity at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of Ovintiv stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $54.78, for a total transaction of $634,461.96. Following the sale, the executive vice president owned 54,092 shares in the company, valued at $2,963,159.76. This trade represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of the business's stock in a transaction on 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 directly owned 45,780 shares in the company, valued at approximately $2,398,414.20. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OVV shares. Scotiabank lifted their price target on Ovintiv from $58.00 to $65.00 and gave the company a "sector outperform" rating in a report on Thursday, March 19th. JPMorgan Chase & Co. started coverage on shares of Ovintiv in a research report on Wednesday, February 25th. They issued an "overweight" rating and a $58.00 target price on the stock. Bank of America upped their price target on shares of Ovintiv from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday. Stephens raised shares of Ovintiv to a "hold" rating in a research note on Tuesday, February 3rd. Finally, TD Cowen lifted their price target on shares of Ovintiv from $58.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.16.

Ovintiv Stock Down 0.1%

Shares of Ovintiv stock opened at $59.13 on Friday. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $62.60. The stock has a market cap of $16.75 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 2.12 and a beta of 0.59. 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 company has a fifty day moving average price of $51.47 and a 200 day moving average price of $43.50.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted ($0.23) earnings per share. Equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.0%. Ovintiv's payout ratio is 24.79%.

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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