Universal Beteiligungs und Servicegesellschaft mbH Sells 51,242 Shares of Ovintiv Inc. $OVV

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,522 shares of the company's stock after selling 51,242 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Ovintiv were worth $4,197,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fiduciary Financial Group LLC increased its position in shares of Ovintiv by 3.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company's stock valued at $371,000 after buying an additional 297 shares during the period. PNC Financial Services Group Inc. boosted its stake in Ovintiv by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company's stock worth $599,000 after acquiring an additional 340 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Ovintiv by 0.6% during the third quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company's stock worth $2,560,000 after acquiring an additional 400 shares in the last quarter. Forum Financial Management LP boosted its stake in Ovintiv by 5.2% during the third quarter. Forum Financial Management LP now owns 9,402 shares of the company's stock worth $380,000 after acquiring an additional 464 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Ovintiv by 58.4% during the third 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 owned by institutional investors.

Analyst Ratings Changes

OVV has been the topic of several research reports. Wall Street Zen raised shares of Ovintiv from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. UBS Group dropped their price objective on shares of Ovintiv from $76.00 to $75.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. initiated coverage on shares of Ovintiv in a research note on Wednesday, February 25th. They set an "overweight" rating and a $58.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Ovintiv from $55.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th. Finally, Morgan Stanley initiated coverage on shares of Ovintiv in a research note on Friday, March 27th. They set an "equal weight" rating and a $68.00 price objective on the stock. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.42.

Insider Activity at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $54.78, for a total value of $634,461.96. Following the transaction, the executive vice president owned 54,092 shares in the company, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Howard John Mayson sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 45,780 shares in the company, valued at approximately $2,398,414.20. This represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.85% of the company's stock.

Ovintiv Trading Up 4.6%

Shares of NYSE OVV opened at $61.12 on Thursday. The firm's 50 day moving average price is $55.52 and its 200-day moving average price is $45.49. The company has a market cap of $17.32 billion, a PE ratio of 12.63, a P/E/G ratio of 1.86 and a beta of 0.59. Ovintiv Inc. has a 52-week low of $32.91 and a 52-week high of $62.60. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54.

Ovintiv (NYSE:OVV - Get Free Report) last issued its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.41. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. On average, equities research analysts expect that Ovintiv Inc. will post 6.52 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, March 13th. Ovintiv's dividend payout ratio is currently 24.79%.

Ovintiv Company 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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