Rachel Maureen Moore Sells 7,753 Shares of Ovintiv (NYSE:OVV) Stock

Key Points

• Ovintiv EVP Rachel Maureen Moore sold 7,753 shares at an average price of $63.32, generating approximately $490,920. Her remaining direct ownership fell 9.66% to 72,530 shares.
• Ovintiv reported quarterly EPS of $1.74, below the $1.94 consensus estimate, while revenue of $3.01 billion exceeded expectations. The company declared a quarterly dividend of $0.30 per share, representing a 1.9% yield.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $66.79; recent targets include $73 from Truist and $85 from Royal Bank of Canada.

Ovintiv Inc. (NYSE:OVV - Get Free Report) EVP Rachel Maureen Moore sold 7,753 shares of Ovintiv stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total transaction of $490,919.96. Following the transaction, the executive vice president directly owned 72,530 shares of the company's stock, valued at approximately $4,592,599.60. This represents a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ovintiv Trading Up 1.1%

NYSE:OVV traded up $0.68 during mid-day trading on Friday, hitting $62.99. 3,225,084 shares of the stock traded hands, compared to its average volume of 4,125,564. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. Ovintiv Inc. has a 52 week low of $35.47 and a 52 week high of $64.61. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 17.79 and a beta of 0.53. The firm's 50 day moving average is $57.19 and its two-hundred day moving average is $55.35.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.20). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.37 billion. Ovintiv had a return on equity of 14.84% and a net margin of 9.43%. On average, equities research analysts predict that Ovintiv Inc. will post 6.87 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Ovintiv's dividend payout ratio (DPR) is currently 33.90%.

Institutional Investors Weigh In On Ovintiv

Several hedge funds have recently modified their holdings of OVV. Steph & Co. purchased a new position in Ovintiv during the first quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Ovintiv during the second quarter worth $32,000. Aberdeen Wealth Management LLC purchased a new stake in Ovintiv during the second quarter worth $32,000. Los Angeles Capital Management LLC bought a new stake in Ovintiv during the 4th quarter valued at $46,000. Finally, Deseret Mutual Benefit Administrators boosted its position in Ovintiv by 27.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company's stock valued at $52,000 after acquiring an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen raised Ovintiv from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Truist Financial reissued a "buy" rating and set a $73.00 target price (up from $66.00) on shares of Ovintiv in a research note on Monday, July 27th. Texas Capital upgraded shares of Ovintiv to a "strong-buy" rating in a report on Thursday, June 25th. Royal Bank Of Canada upped their price target on shares of Ovintiv from $70.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Finally, Scotiabank raised shares of Ovintiv from an "outperform" rating to a "buy" rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.79.

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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