Parkside Financial Bank & Trust Has $92,000 Stock Position in Ovintiv Inc. (NYSE:OVV)

Parkside Financial Bank & Trust increased its stake in Ovintiv Inc. (NYSE:OVV) by 6,428.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,089 shares of the company’s stock after acquiring an additional 2,057 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Ovintiv were worth $92,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC lifted its stake in shares of Ovintiv by 151.3% in the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after acquiring an additional 351 shares during the period. Loomis Sayles & Co. L P increased its holdings in Ovintiv by 107.6% in the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after purchasing an additional 341 shares in the last quarter. Quantbot Technologies LP bought a new stake in Ovintiv in the third quarter worth approximately $38,000. Pacifica Partners Inc. bought a new stake in Ovintiv in the fourth quarter worth approximately $37,000. Finally, Fifth Third Bancorp increased its holdings in Ovintiv by 42.1% in the third quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock worth $77,000 after purchasing an additional 479 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Trading Up 0.5 %

Shares of Ovintiv stock opened at $53.17 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. Ovintiv Inc. has a 12-month low of $32.07 and a 12-month high of $55.95. The company has a market capitalization of $14.30 billion, a P/E ratio of 6.74 and a beta of 2.65. The stock has a fifty day simple moving average of $50.82 and a 200 day simple moving average of $46.62.

Ovintiv (NYSE:OVV) last released its quarterly earnings data 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 company had revenue of $3.17 billion for 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%. On average, sell-side analysts anticipate that Ovintiv Inc. will post 6.13 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 yield of 2.26%. Ovintiv’s dividend payout ratio is currently 15.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays assumed coverage on Ovintiv in a report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 target price for the company. UBS Group boosted their price objective on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Jefferies Financial Group boosted their price objective on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, April 12th. Mizuho restated a “buy” rating and set a $58.00 price objective on shares of Ovintiv in a report on Thursday, April 4th. Finally, Wells Fargo & Company decreased their price objective on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

Insiders Place Their Bets

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the completion of the transaction, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock worth $4,660,818 in the last ninety days. 1.70% of the stock is currently owned by insiders.

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.