12,918 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by Focus Partners Wealth

Focus Partners Wealth acquired a new position in Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,918 shares of the company’s stock, valued at approximately $523,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock worth $1,193,272,000 after purchasing an additional 451,947 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ovintiv by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company’s stock worth $225,265,000 after purchasing an additional 683,700 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock worth $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ovintiv by 69.7% during the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company’s stock worth $132,992,000 after purchasing an additional 1,348,221 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Ovintiv by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock worth $118,530,000 after purchasing an additional 8,168 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

NYSE:OVV opened at $36.90 on Wednesday. The firm’s fifty day moving average is $36.93 and its two-hundred day moving average is $40.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a one year low of $29.80 and a one year high of $51.72. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 4.89 and a beta of 1.14.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.22. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv’s payout ratio is currently 51.06%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OVV. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price target on shares of Ovintiv in a research report on Tuesday, April 15th. Wells Fargo & Company upped their price target on Ovintiv from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. BMO Capital Markets raised Ovintiv from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Scotiabank raised Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Mizuho cut their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $55.65.

Ovintiv 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. 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.