Victory Capital Management Inc. Sells 505,298 Shares of Ovintiv Inc. $OVV

Key Points

• Victory Capital Management cut its Ovintiv stake by 32.6% in Q3, selling 505,298 shares and leaving it with 1,046,631 shares worth about $42.3 million (≈0.41% of the company) per its latest 13F filing.
• Significant insider selling occurred recently—Director Howard Mayson sold 5,000 shares and COO Gregory Givens sold 50,000 shares—while institutional investors own 83.81% of the stock and insiders hold just 1.70%.
• Ovintiv beat Q results (EPS $1.39 vs. $0.98 est.), declared a $0.30 quarterly dividend (annualized $1.20, ~2.3% yield), and carries a MarketBeat consensus of Moderate Buy with an average target of $52.88 (shares near $52.25).

Victory Capital Management Inc. cut its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 32.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,046,631 shares of the company's stock after selling 505,298 shares during the quarter. Victory Capital Management Inc. owned about 0.41% of Ovintiv worth $42,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC bought a new position in shares of Ovintiv during the third quarter worth about $31,000. HM Payson & Co. bought a new stake in Ovintiv during the third quarter worth about $36,000. Quent Capital LLC bought a new stake in Ovintiv during the third quarter worth about $37,000. MAI Capital Management boosted its position in Ovintiv by 174.6% during the second quarter. MAI Capital Management now owns 1,170 shares of the company's stock valued at $45,000 after purchasing an additional 744 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Ovintiv by 126.2% in the second quarter. Allworth Financial LP now owns 1,624 shares of the company's stock valued at $62,000 after purchasing an additional 906 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OVV. National Bank Financial boosted their price target on Ovintiv from $56.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $54.00 price objective on shares of Ovintiv in a research report on Saturday, January 17th. Scotiabank raised Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 11th. Zacks Research raised Ovintiv from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 3rd. Finally, Roth Mkm upped their price target on shares of Ovintiv from $42.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Ovintiv currently has a consensus rating of "Moderate Buy" and an average target price of $52.88.

Insider Activity

In other news, Director Howard John Mayson sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the completion of the transaction, the director owned 45,780 shares of the company's stock, valued at approximately $2,398,414.20. This represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gregory Dean Givens sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the sale, the chief operating officer owned 105,867 shares in the company, valued at approximately $4,269,616.11. The trade was a 32.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is currently owned by insiders.

Ovintiv Stock Down 0.7%

NYSE OVV opened at $52.25 on Friday. The business has a fifty day moving average price of $44.29 and a two-hundred day moving average price of $41.28. The stock has a market capitalization of $14.80 billion, a PE ratio of 10.80, a PEG ratio of 2.83 and a beta of 0.69. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $53.31. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54.

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, 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 quarter last year, the company posted ($0.23) EPS. Equities analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, March 13th. Ovintiv's payout ratio is currently 24.79%.

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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