Ovintiv Inc. $OVV Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 32.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 827,119 shares of the company’s stock after buying an additional 201,477 shares during the period. American Century Companies Inc. owned about 0.32% of Ovintiv worth $31,472,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Ovintiv by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,423,206 shares of the company’s stock worth $1,302,113,000 after acquiring an additional 959,711 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Ovintiv by 383.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock valued at $396,267,000 after buying an additional 7,344,796 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Ovintiv by 3.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 8,437,152 shares of the company’s stock valued at $361,110,000 after buying an additional 284,656 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Ovintiv by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,708,987 shares of the company’s stock worth $244,338,000 after buying an additional 146,749 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Ovintiv by 69.7% in the first quarter. AQR Capital Management LLC now owns 5,572,732 shares of the company’s stock valued at $238,513,000 after acquiring an additional 2,288,989 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Up 1.0%

Ovintiv stock opened at $40.87 on Friday. The company has a market capitalization of $10.35 billion, a P/E ratio of 18.08, a PEG ratio of 1.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $46.35. The stock has a 50-day simple moving average of $38.80 and a 200-day simple moving average of $39.46.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. Equities research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ovintiv’s dividend payout ratio is currently 131.87%.

Analyst Upgrades and Downgrades

OVV has been the subject of several analyst reports. Mizuho lowered their price target on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Evercore ISI reiterated an “outperform” rating and set a $47.00 target price on shares of Ovintiv in a research note on Thursday, November 6th. Morgan Stanley cut their price target on Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their price objective on Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Finally, Roth Capital started coverage on Ovintiv in a research report on Monday, October 13th. They set a “neutral” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $51.83.

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.