Ovintiv Inc. (NYSE:OVV) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,676,420 shares of the company's stock after purchasing an additional 68,718 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.61% of Ovintiv worth $73,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Quent Capital LLC raised its stake in Ovintiv by 151.3% in the 4th quarter. Quent Capital LLC now owns 583 shares of the company's stock valued at $26,000 after acquiring an additional 351 shares during the period. Loomis Sayles & Co. L P raised its holdings in Ovintiv by 107.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company's stock valued at $31,000 after acquiring an additional 341 shares during the period. Avalon Trust Co purchased a new stake in shares of Ovintiv during the fourth quarter worth $34,000. Pacifica Partners Inc. bought a new position in shares of Ovintiv in the fourth quarter worth $37,000. Finally, Quantbot Technologies LP purchased a new position in shares of Ovintiv in the third quarter valued at $38,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction, the director now owns 36,840 shares in the company, valued at approximately $1,862,630.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Steven W. Nance sold 12,000 shares of the business's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the transaction, the director now owns 8,929 shares in the company, valued at $446,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Howard John Mayson sold 6,000 shares of the firm'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 sale, the director now owns 36,840 shares of the company's stock, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold a total of 103,564 shares of company stock valued at $5,260,818 in the last quarter. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on OVV shares. Royal Bank of Canada raised 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. Jefferies Financial Group boosted their price objective on shares of Ovintiv from $59.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, April 12th. Barclays started coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They issued an "overweight" rating and a $69.00 target price on the stock. Mizuho boosted their price target on shares of Ovintiv from $58.00 to $64.00 and gave the company a "buy" rating in a research report on Monday. Finally, Citigroup upped their price target on shares of Ovintiv from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.12.

Ovintiv Trading Up 0.4 %

Shares of NYSE:OVV traded up $0.20 on Wednesday, reaching $49.98. 2,721,092 shares of the company traded hands, compared to its average volume of 3,032,626. The stock has a market capitalization of $13.34 billion, a P/E ratio of 6.91 and a beta of 2.64. The business's 50-day simple moving average is $51.97 and its 200 day simple moving average is $46.77. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $55.95.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 17.74% and a net margin of 18.12%. As a group, equities analysts anticipate that Ovintiv Inc. will post 6.07 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, June 14th. This represents a $1.20 annualized dividend and a yield of 2.40%. Ovintiv's payout ratio is currently 16.76%.

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.