National Pension Service acquired a new position in Ovintiv Inc. (NYSE:OVV – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 423,600 shares of the company’s stock, valued at approximately $21,481,000. National Pension Service owned about 0.17% of Ovintiv at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Belpointe Asset Management LLC purchased a new stake in Ovintiv during the 4th quarter worth about $29,000. Miller Wealth Advisors LLC lifted its holdings in Ovintiv by 48.2% during the 4th quarter. Miller Wealth Advisors LLC now owns 664 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Ovintiv during the 4th quarter worth about $41,000. Exos TFP Holdings LLC purchased a new stake in Ovintiv during the 4th quarter worth about $46,000. Finally, Harbour Investments Inc. lifted its holdings in Ovintiv by 124.6% during the 4th quarter. Harbour Investments Inc. now owns 923 shares of the company’s stock worth $47,000 after purchasing an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 76.76% of the company’s stock.
Analyst Ratings Changes
OVV has been the topic of a number of research analyst reports. TD Cowen decreased their target price on Ovintiv from $79.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 5th. Truist Financial upped their target price on Ovintiv from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. CIBC decreased their target price on Ovintiv from $55.00 to $50.00 in a research note on Tuesday, May 23rd. JPMorgan Chase & Co. lowered Ovintiv from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $59.00 to $53.00 in a research note on Tuesday, March 14th. Finally, Evercore ISI decreased their target price on Ovintiv from $60.00 to $42.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 4th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.16.
Ovintiv Trading Up 1.0 %
Shares of OVV stock opened at $37.90 on Tuesday. Ovintiv Inc. has a 12-month low of $32.07 and a 12-month high of $59.10. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $35.77 and its 200-day moving average price is $42.01. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 2.22, a price-to-earnings-growth ratio of 0.33 and a beta of 2.79.
Ovintiv (NYSE:OVV – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.01). Ovintiv had a return on equity of 23.98% and a net margin of 33.45%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.34 billion. Equities research analysts predict that Ovintiv Inc. will post 7.68 EPS for the current fiscal year.
Ovintiv Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.30 per share. This is a boost from Ovintiv’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. Ovintiv’s dividend payout ratio is currently 7.01%.
Ovintiv Company Profile
Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. 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.
Further Reading
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