Amova Asset Management Americas Inc. Acquires New Stake in Ovintiv Inc. $OVV

Amova Asset Management Americas Inc. acquired a new stake in Ovintiv Inc. (NYSE:OVV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,799 shares of the company’s stock, valued at approximately $1,710,000.

A number of other large investors also recently bought and sold shares of OVV. Steph & Co. purchased a new position in Ovintiv during the first quarter worth about $29,000. Flagship Harbor Advisors LLC acquired a new position in Ovintiv during the 4th quarter worth approximately $38,000. Los Angeles Capital Management LLC purchased a new position in shares of Ovintiv during the 4th quarter worth approximately $46,000. Deseret Mutual Benefit Administrators raised its stake in shares of Ovintiv by 27.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock worth $52,000 after buying an additional 287 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Ovintiv by 58.4% in the 3rd quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock valued at $54,000 after buying an additional 494 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

NYSE:OVV opened at $59.37 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $16.68 billion, a P/E ratio of 19.15 and a beta of 0.53. The firm has a 50-day moving average price of $56.19 and a two-hundred day moving average price of $52.73. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $63.46.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv’s dividend payout ratio (DPR) is 38.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OVV shares. Royal Bank Of Canada set a $70.00 target price on Ovintiv and gave the company an “outperform” rating in a report on Monday, June 22nd. Truist Financial lowered their price target on shares of Ovintiv from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Barclays raised their price objective on shares of Ovintiv from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. UBS Group decreased their price objective on shares of Ovintiv from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Morgan Stanley lowered their target price on shares of Ovintiv from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.63.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.