HB Wealth Management LLC Has $253,000 Stock Position in Ovintiv Inc. $OVV

HB Wealth Management LLC lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 17.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,643 shares of the company’s stock after buying an additional 1,005 shares during the quarter. HB Wealth Management LLC’s holdings in Ovintiv were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in OVV. Harbour Investments Inc. raised its stake in Ovintiv by 143.8% during the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock worth $39,000 after buying an additional 542 shares during the period. Gen Wealth Partners Inc increased its holdings in shares of Ovintiv by 91.8% during the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock valued at $43,000 after acquiring an additional 484 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Ovintiv during the first quarter worth approximately $48,000. Smartleaf Asset Management LLC lifted its holdings in shares of Ovintiv by 43.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,154 shares of the company’s stock worth $49,000 after purchasing an additional 349 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in Ovintiv by 91.3% in the 1st quarter. Brooklyn Investment Group now owns 1,228 shares of the company’s stock valued at $53,000 after purchasing an additional 586 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Trading Down 0.9%

Shares of Ovintiv stock opened at $39.72 on Wednesday. The firm has a market cap of $10.21 billion, a PE ratio of 17.57, a P/E/G ratio of 5.20 and a beta of 0.97. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a fifty day moving average price of $40.86 and a 200-day moving average price of $38.93.

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

Ovintiv Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Mizuho lowered their price objective on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Wells Fargo & Company decreased their target price on shares of Ovintiv from $46.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, June 16th. Scotiabank upped their target price on shares of Ovintiv from $48.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. The Goldman Sachs Group raised shares of Ovintiv from a “neutral” rating to a “buy” rating and raised their price target for the company from $47.00 to $51.00 in a research report on Tuesday, July 1st. Finally, Citigroup set a $54.00 price objective on Ovintiv and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and an average target price of $52.00.

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.