Park Avenue Securities LLC Has $444,000 Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Park Avenue Securities LLC lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 51.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,373 shares of the company’s stock after purchasing an additional 3,528 shares during the quarter. Park Avenue Securities LLC’s holdings in Ovintiv were worth $444,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Ovintiv by 1,732.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock worth $137,134,000 after buying an additional 3,203,087 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Ovintiv by 1,577.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company’s stock worth $99,587,000 after buying an additional 2,312,292 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Ovintiv by 243.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,564,698 shares of the company’s stock valued at $103,870,000 after purchasing an additional 1,818,337 shares in the last quarter. AQR Capital Management LLC grew its holdings in Ovintiv by 69.7% during the 4th quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company’s stock valued at $132,992,000 after buying an additional 1,348,221 shares in the last quarter. Finally, Webs Creek Capital Management LP bought a new stake in Ovintiv during the 4th quarter worth approximately $54,086,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Price Performance

NYSE:OVV opened at $41.90 on Friday. Ovintiv Inc. has a one year low of $29.80 and a one year high of $49.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 5.56 and a beta of 1.09. The firm’s fifty day moving average is $35.84 and its two-hundred day moving average is $39.78.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. Ovintiv’s dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OVV. JPMorgan Chase & Co. lowered their target price on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays dropped their target price on Ovintiv from $59.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of Ovintiv from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Mizuho reduced their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Ovintiv currently has a consensus rating of “Buy” and a consensus target price of $55.00.

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.