Ceredex Value Advisors LLC Invests $67.15 Million in Ovintiv Inc. (NYSE:OVV)

Ceredex Value Advisors LLC acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,528,900 shares of the company's stock, valued at approximately $67,149,000. Ovintiv makes up 1.2% of Ceredex Value Advisors LLC's portfolio, making the stock its 28th largest position. Ceredex Value Advisors LLC owned about 0.56% of Ovintiv as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OVV. State Street Corp raised its stake in shares of Ovintiv by 38.8% during the 2nd quarter. State Street Corp now owns 9,748,971 shares of the company's stock worth $371,143,000 after purchasing an additional 2,724,998 shares during the period. Vanguard Group Inc. raised its stake in shares of Ovintiv by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company's stock worth $1,285,816,000 after purchasing an additional 2,484,554 shares during the period. Invesco Ltd. raised its stake in shares of Ovintiv by 321.3% during the 1st quarter. Invesco Ltd. now owns 2,396,829 shares of the company's stock worth $129,597,000 after purchasing an additional 1,827,966 shares during the period. Palo Duro Investment Partners LP bought a new stake in shares of Ovintiv during the 1st quarter worth $56,151,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Ovintiv by 63.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,950,457 shares of the company's stock worth $213,604,000 after purchasing an additional 1,530,397 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OVV has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their target price on Ovintiv from $48.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 29th. UBS Group lowered their target price on Ovintiv from $63.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, December 14th. Mizuho reissued a "buy" rating and issued a $58.00 price objective on shares of Ovintiv in a report on Thursday. National Bankshares decreased their price objective on Ovintiv from $69.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, January 10th. Finally, Scotiabank decreased their price objective on Ovintiv from $53.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ovintiv currently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Insider Transactions at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares of the company's stock, valued at $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Howard John Mayson sold 6,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the transaction, the director now owns 36,840 shares of the company's stock, valued at $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rachel Maureen Moore sold 9,300 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the transaction, the executive vice president now directly owns 52,557 shares of the company's stock, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,564 shares of company stock valued at $4,660,818. 1.70% of the stock is owned by corporate insiders.

Ovintiv Price Performance

OVV stock traded up $0.79 during mid-day trading on Friday, reaching $55.27. 2,154,668 shares of the company traded hands, compared to its average volume of 3,728,941. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $14.86 billion, a P/E ratio of 7.01 and a beta of 2.65. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $55.52. The company has a fifty day moving average price of $47.73 and a 200-day moving average price of $45.92.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.41. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. As a group, analysts anticipate that Ovintiv Inc. will post 6.03 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, March 14th. Ovintiv's payout ratio is 15.21%.

Ovintiv Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.