New Age Alpha Advisors LLC Sells 57,209 Shares of Ovintiv Inc. (NYSE:OVV)

New Age Alpha Advisors LLC lowered its stake in shares of Ovintiv Inc. (NYSE:OVV) by 97.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,336 shares of the company’s stock after selling 57,209 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Ovintiv were worth $57,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of OVV. Price T Rowe Associates Inc. MD grew its holdings in Ovintiv by 1,577.4% during the fourth 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 in the last quarter. Alyeska Investment Group L.P. grew its stake in Ovintiv by 243.6% in the 4th 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 during the period. AQR Capital Management LLC grew its stake 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 purchasing an additional 1,348,221 shares during the period. Webs Creek Capital Management LP bought a new position in Ovintiv in the 4th quarter valued at $54,086,000. Finally, Freestone Grove Partners LP bought a new position in Ovintiv in the 4th quarter valued at $45,243,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on OVV shares. Citigroup set a $54.00 price objective on Ovintiv and gave the company a “buy” rating in a research note on Wednesday, July 2nd. 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. Barclays upped their price objective on Ovintiv from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Scotiabank upped their price objective on Ovintiv from $48.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group upgraded Ovintiv from a “neutral” rating to a “buy” rating and upped their price objective for the company from $47.00 to $51.00 in a research note on Tuesday, July 1st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $53.47.

Ovintiv Stock Down 2.4%

Shares of NYSE OVV opened at $38.95 on Tuesday. The business’s fifty day moving average price is $39.98 and its 200-day moving average price is $39.22. The stock has a market capitalization of $10.01 billion, a PE ratio of 17.24, a P/E/G ratio of 4.83 and a beta of 1.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. Ovintiv Inc. has a one year low of $29.80 and a one year high of $47.18.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. On average, equities research analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Ovintiv’s dividend payout ratio is 53.10%.

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.