Ovintiv Inc. (NYSE:OVV) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 7.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,654 shares of the company’s stock after selling 545 shares during the period. Avantax Advisory Services Inc.’s holdings in Ovintiv were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC acquired a new stake in shares of Ovintiv during the 4th quarter worth about $28,000. Optiver Holding B.V. acquired a new stake in shares of Ovintiv during the 4th quarter worth about $40,000. Quent Capital LLC raised its position in shares of Ovintiv by 146.5% during the 1st quarter. Quent Capital LLC now owns 1,134 shares of the company’s stock worth $49,000 after acquiring an additional 674 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Ovintiv during the 1st quarter worth about $68,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of Ovintiv by 65.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,700 shares of the company’s stock worth $73,000 after acquiring an additional 672 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Up 2.5%

Shares of OVV stock opened at $39.86 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $39.93 and its two-hundred day moving average is $39.35. The company has a market capitalization of $10.25 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 4.71 and a beta of 1.10. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $47.18.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.02). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.92 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. Equities analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. Ovintiv’s dividend payout ratio (DPR) is currently 53.10%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OVV shares. Barclays raised their target price on Ovintiv from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Citigroup set a $54.00 price target on Ovintiv and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group upgraded Ovintiv from a “neutral” rating to a “buy” rating and raised their price target for the stock from $47.00 to $51.00 in a research note on Tuesday, July 1st. Wells Fargo & Company dropped their price target on Ovintiv from $46.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, June 16th. Finally, Scotiabank raised their price target on Ovintiv from $48.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $53.47.

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.