Ameriprise Financial Inc. Boosts Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Ameriprise Financial Inc. boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 61.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,565 shares of the company's stock after acquiring an additional 205,475 shares during the period. Ameriprise Financial Inc. owned about 0.21% of Ovintiv worth $21,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Claro Advisors LLC bought a new stake in shares of Ovintiv in the 4th quarter valued at about $229,000. Pallas Capital Advisors LLC boosted its holdings in shares of Ovintiv by 128.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 13,586 shares of the company's stock valued at $550,000 after buying an additional 7,637 shares in the last quarter. Oak Thistle LLC boosted its holdings in shares of Ovintiv by 37.5% in the 4th quarter. Oak Thistle LLC now owns 31,672 shares of the company's stock valued at $1,283,000 after buying an additional 8,639 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Ovintiv by 8.9% in the 4th quarter. Park Avenue Securities LLC now owns 6,845 shares of the company's stock valued at $277,000 after buying an additional 558 shares in the last quarter. Finally, Foundation Resource Management Inc. boosted its holdings in shares of Ovintiv by 0.9% in the 4th quarter. Foundation Resource Management Inc. now owns 89,292 shares of the company's stock valued at $3,616,000 after buying an additional 830 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Performance

OVV traded down $0.30 during trading on Friday, reaching $37.33. 4,871,972 shares of the company's stock were exchanged, compared to its average volume of 3,237,522. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $51.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $9.70 billion, a P/E ratio of 4.95 and a beta of 1.14. The company's fifty day simple moving average is $37.02 and its 200-day simple moving average is $40.57.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.22. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. As a group, research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's dividend payout ratio (DPR) is 51.06%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OVV. Barclays lowered their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley restated an "overweight" rating and issued a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. Finally, Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $55.65.

Ovintiv 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.