Miller Howard Investments Inc. NY Sells 44,139 Shares of Ovintiv Inc. (NYSE:OVV)

Miller Howard Investments Inc. NY cut its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 61.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,147 shares of the company's stock after selling 44,139 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Ovintiv were worth $1,236,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Ovintiv by 1,202.0% in the fourth quarter. International Assets Investment Management LLC now owns 13,879 shares of the company's stock worth $610,000 after buying an additional 12,813 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Ovintiv during the 4th quarter worth about $67,149,000. Lodestone Wealth Management LLC grew its stake in Ovintiv by 47.5% during the 4th quarter. Lodestone Wealth Management LLC now owns 43,018 shares of the company's stock valued at $1,889,000 after acquiring an additional 13,851 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Ovintiv by 290.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 79,845 shares of the company's stock valued at $3,503,000 after purchasing an additional 59,379 shares during the period. Finally, New York State Teachers Retirement System lifted its position in shares of Ovintiv by 5.4% in the fourth quarter. New York State Teachers Retirement System now owns 231,284 shares of the company's stock worth $10,158,000 after purchasing an additional 11,928 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Ovintiv from $48.00 to $49.00 and gave the company a "sector perform" rating in a research report on Thursday, February 29th. UBS Group dropped their price target on shares of Ovintiv from $63.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, December 14th. Scotiabank reduced their price objective on Ovintiv from $53.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, January 16th. Mizuho restated a "buy" rating and issued a $58.00 target price on shares of Ovintiv in a research note on Thursday, April 4th. Finally, National Bankshares cut their price target on Ovintiv from $69.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $54.94.

Insider Buying and Selling

In other news, EVP Rachel Maureen Moore sold 9,300 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.65, for a total value of $471,045.00. Following the sale, the executive vice president now owns 52,557 shares in the company, valued at $2,662,012.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares of the company's stock, valued at $2,662,012.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Howard John Mayson sold 6,000 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,564 shares of company stock valued at $4,660,818. Insiders own 0.97% of the company's stock.

Ovintiv Stock Performance

OVV stock traded down $0.04 during midday trading on Wednesday, hitting $55.52. 3,208,104 shares of the company traded hands, compared to its average volume of 3,188,835. Ovintiv Inc. has a twelve month low of $32.07 and a twelve month high of $55.95. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 7.05 and a beta of 2.65. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53. The business has a 50 day simple moving average of $48.21 and a 200-day simple moving average of $46.07.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.41. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. As a group, equities research analysts predict that Ovintiv Inc. will post 6.02 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 paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.16%. Ovintiv's payout ratio is presently 15.21%.

About Ovintiv

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.