Captrust Financial Advisors Buys 10,261 Shares of Ovintiv Inc. (NYSE:OVV)

Captrust Financial Advisors grew its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 129.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,209 shares of the company's stock after purchasing an additional 10,261 shares during the quarter. Captrust Financial Advisors' holdings in Ovintiv were worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in OVV. MassMutual Private Wealth & Trust FSB grew its stake in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after purchasing an additional 335 shares in the last quarter. Mizuho Bank Ltd. bought a new position in shares of Ovintiv during the 4th quarter worth approximately $40,000. Optiver Holding B.V. acquired a new stake in shares of Ovintiv in the 4th quarter valued at $40,000. Finally, Cullen Frost Bankers Inc. grew its stake in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OVV. JPMorgan Chase & Co. cut their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. National Bankshares boosted their target price on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Wells Fargo & Company upped their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Finally, Williams Trading set a $58.00 target price on Ovintiv in a research report on Wednesday, March 5th. Two 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 MarketBeat, the company currently has an average rating of "Buy" and an average target price of $55.65.

Ovintiv Stock Performance

Ovintiv stock traded down $0.17 during mid-day trading on Tuesday, hitting $36.90. 2,857,527 shares of the company's stock traded hands, compared to its average volume of 3,233,593. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $51.72. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 4.89 and a beta of 1.14. The firm has a 50 day simple moving average of $36.97 and a two-hundred day simple moving average of $40.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. On average, research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, June 13th. Ovintiv's dividend payout ratio (DPR) is currently 51.06%.

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.