Oppenheimer Asset Management Inc. Has $885,000 Holdings in Ovintiv Inc. (NYSE:OVV)

Oppenheimer Asset Management Inc. lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,673 shares of the company’s stock after buying an additional 1,492 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ovintiv were worth $885,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC grew its holdings in Ovintiv by 36.7% in the fourth quarter. Sanctuary Advisors LLC now owns 13,654 shares of the company’s stock worth $599,000 after purchasing an additional 3,663 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Ovintiv by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock valued at $118,530,000 after buying an additional 8,168 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Ovintiv in the 4th quarter valued at about $768,000. QRG Capital Management Inc. grew its stake in shares of Ovintiv by 4.0% in the 4th quarter. QRG Capital Management Inc. now owns 44,595 shares of the company’s stock valued at $1,806,000 after buying an additional 1,703 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after buying an additional 335 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Performance

Shares of NYSE OVV opened at $38.40 on Friday. The firm’s 50-day moving average price is $37.17 and its 200-day moving average price is $39.57. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.98 billion, a PE ratio of 16.34, a PEG ratio of 2.09 and a beta of 1.09. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $49.57.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data 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. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a net margin of 6.84% and a return on equity of 14.89%. As a group, analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, June 13th. Ovintiv’s dividend payout ratio (DPR) is 51.06%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OVV. Barclays reduced their price target on shares of Ovintiv from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Mizuho reduced their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Williams Trading set a $58.00 price target on Ovintiv in a research note on Wednesday, March 5th. Finally, BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and lifted their price target for the company 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’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $54.69.

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.