Ovintiv Inc. $OVV Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in Ovintiv Inc. (NYSE:OVV) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,243 shares of the company’s stock after selling 60,485 shares during the quarter. Acadian Asset Management LLC’s holdings in Ovintiv were worth $5,274,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Capital Advisors Inc. lifted its holdings in shares of Ovintiv by 1,681.1% in the first quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock valued at $594,000 after buying an additional 13,096 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Ovintiv by 54.3% during the first quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock valued at $41,211,000 after purchasing an additional 338,866 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Ovintiv by 204.2% during the first quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock valued at $24,988,000 after purchasing an additional 391,923 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ovintiv by 383.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock valued at $396,267,000 after purchasing an additional 7,344,796 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its holdings in shares of Ovintiv by 135.3% during the first quarter. Maverick Capital Ltd. now owns 13,492 shares of the company’s stock valued at $577,000 after purchasing an additional 7,758 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $41.91 on Friday. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $47.18. The firm has a market capitalization of $10.77 billion, a PE ratio of 18.54, a PEG ratio of 5.44 and a beta of 1.08. The business’s 50 day moving average is $40.65 and its 200-day moving average is $38.81. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42.

Ovintiv (NYSE:OVV) last posted its 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 company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. Sell-side analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Ovintiv’s dividend payout ratio (DPR) is 53.10%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OVV shares. TD Cowen raised Ovintiv to a “strong-buy” rating in a research note on Monday, July 7th. UBS Group increased their price objective on Ovintiv from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Citigroup set a $54.00 price objective on Ovintiv and gave the stock 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. Finally, Scotiabank increased 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, July 11th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $53.07.

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.