Ovintiv Inc. (NYSE:OVV - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $65.00 and last traded at $64.8560, with a volume of 6118 shares trading hands. The stock had previously closed at $63.85.

Analysts Set New Price Targets

• 2 Canadian Mid-Cap Dividend Payers Energized For Growth

Several analysts recently issued reports on OVV shares. Weiss Ratings raised shares of Ovintiv from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. National Bank Financial boosted their target price on shares of Ovintiv from $82.00 to $83.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Texas Capital upgraded shares of Ovintiv to a "strong-buy" rating in a report on Thursday, June 25th. Barclays raised their price target on Ovintiv from $68.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company dropped their price objective on Ovintiv from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. One research 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, Ovintiv presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.79.

View Our Latest Stock Analysis on OVV

Ovintiv Trading Up 1.1%

The firm has a market cap of $17.78 billion, a P/E ratio of 18.23 and a beta of 0.53. The company's 50 day moving average is $57.43 and its two-hundred day moving average is $55.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.20). The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.37 billion. Ovintiv had a return on equity of 14.84% and a net margin of 9.43%. On average, sell-side analysts predict that Ovintiv Inc. will post 6.83 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued 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 presently 33.90%.

Insider Buying and Selling at Ovintiv

In other news, EVP Rachel Maureen Moore sold 7,753 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total value of $490,919.96. Following the sale, the executive vice president directly owned 72,530 shares in the company, valued at approximately $4,592,599.60. This represents a 9.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.85% of the company's stock.

Institutional Trading of Ovintiv

A number of large investors have recently bought and sold shares of OVV. UBS Group AG lifted its holdings in Ovintiv by 8.3% during the 4th quarter. UBS Group AG now owns 997,177 shares of the company's stock valued at $39,079,000 after purchasing an additional 76,846 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Ovintiv by 317.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 187,800 shares of the company's stock valued at $7,373,000 after acquiring an additional 142,800 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Ovintiv in the fourth quarter valued at approximately $5,045,000. Pacific Heights Asset Management LLC boosted its holdings in shares of Ovintiv by 23.7% in the 4th quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the company's stock worth $23,514,000 after acquiring an additional 115,000 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab acquired a new position in shares of Ovintiv in the 2nd quarter worth approximately $4,738,000. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Company Profile

(Get Free Report)

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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