Ovintiv Inc. (NYSE:OVV) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 16.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,339 shares of the company’s stock after purchasing an additional 909 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ovintiv were worth $271,000 at the end of the most recent quarter.

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

Ovintiv Price Performance

NYSE OVV opened at $41.93 on Friday. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $49.57. The stock’s 50-day moving average is $38.36 and its two-hundred day moving average is $39.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $10.89 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.36 and a beta of 1.08.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.22. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. On average, analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.86%. Ovintiv’s payout ratio is presently 51.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OVV. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target on shares of Ovintiv in a research report on Tuesday, April 15th. Barclays lifted their price target on Ovintiv from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Wells Fargo & Company reduced their price objective on Ovintiv from $46.00 to $41.00 and set an “equal weight” rating for the company in a research note on Monday, June 16th. The Goldman Sachs Group raised Ovintiv from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $51.00 in a research note on Tuesday, July 1st. Finally, Scotiabank raised their price objective on Ovintiv from $48.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $54.47.

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. 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.