MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Purchases 1,020 Shares of Ovintiv Inc. (NYSE:OVV)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lifted its position in shares of Ovintiv Inc. (NYSE:OVVGet Rating) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,865 shares of the company’s stock after acquiring an additional 1,020 shares during the quarter. Ovintiv accounts for approximately 1.8% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s portfolio, making the stock its 5th largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned about 0.11% of Ovintiv worth $16,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank N A MO acquired a new position in shares of Ovintiv during the fourth quarter worth about $39,000. CWM LLC increased its holdings in Ovintiv by 211.8% in the first quarter. CWM LLC now owns 1,216 shares of the company’s stock valued at $66,000 after buying an additional 826 shares in the last quarter. Tobam acquired a new stake in shares of Ovintiv in the first quarter valued at approximately $77,000. Banque Cantonale Vaudoise grew its position in shares of Ovintiv by 135.6% in the first quarter. Banque Cantonale Vaudoise now owns 1,885 shares of the company’s stock valued at $102,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Ovintiv by 58.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,382 shares of the company’s stock valued at $80,000 after purchasing an additional 882 shares during the last quarter. 76.96% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Up 4.8 %

Ovintiv stock traded up $2.19 during midday trading on Friday, hitting $47.82. 3,592,925 shares of the stock were exchanged, compared to its average volume of 3,202,842. Ovintiv Inc. has a 1 year low of $21.92 and a 1 year high of $63.30. The firm has a market cap of $12.24 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.11 and a beta of 3.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50 day moving average price of $48.64 and a two-hundred day moving average price of $47.59.

Ovintiv (NYSE:OVVGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.37). The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.42 billion. Ovintiv had a return on equity of 65.58% and a net margin of 22.42%. On average, sell-side analysts predict that Ovintiv Inc. will post 9.5 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, September 14th.

Analyst Ratings Changes

Several research firms have recently commented on OVV. Raymond James set a $60.00 price target on shares of Ovintiv and gave the company a “market perform” rating in a research report on Tuesday, May 10th. National Bankshares decreased their target price on shares of Ovintiv from $100.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday. Royal Bank of Canada decreased their target price on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 12th. National Bank Financial raised their target price on shares of Ovintiv from $90.00 to $115.00 in a research report on Thursday, June 16th. Finally, Truist Financial raised their target price on shares of Ovintiv from $72.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Insiders Place Their Bets

In other Ovintiv news, Director Howard John Mayson sold 550 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $58.28, for a total transaction of $32,054.00. Following the completion of the transaction, the director now directly owns 27,003 shares of the company’s stock, valued at approximately $1,573,734.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Howard John Mayson sold 550 shares of Ovintiv stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $58.28, for a total value of $32,054.00. Following the completion of the transaction, the director now directly owns 27,003 shares of the company’s stock, valued at approximately $1,573,734.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas G. Ricks sold 19,231 shares of Ovintiv stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $59.50, for a total transaction of $1,144,244.50. Following the completion of the transaction, the director now directly owns 116,269 shares of the company’s stock, valued at $6,918,005.50. The disclosure for this sale can be found here. Insiders sold a total of 29,785 shares of company stock valued at $1,676,509 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Ovintiv Company Profile

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Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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