6,349 Shares in Ovintiv Inc. $OVV Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has acquired 6,349 shares of Ovintiv Inc. valued at approximately $270,000 during the first quarter, signaling growing institutional interest in the energy company.
• Ovintiv reported $1.02 earnings per share for the last quarter, missing analyst estimates, and has announced a quarterly dividend of $0.30 per share, reflecting a 2.9% yield.
• Wall Street analysts have varying ratings on the stock, with an average rating of "Buy" and a consensus target price of $53.07, indicating potential upside in the company's valuation.

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Ovintiv Inc. (NYSE:OVV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,349 shares of the company's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC acquired a new stake in shares of Ovintiv during the 4th quarter worth approximately $28,000. Harbour Investments Inc. grew its stake in shares of Ovintiv by 143.8% during the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company's stock worth $39,000 after purchasing an additional 542 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Ovintiv during the 4th quarter worth approximately $40,000. Gen Wealth Partners Inc grew its stake in shares of Ovintiv by 91.8% during the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company's stock worth $43,000 after purchasing an additional 484 shares during the period. Finally, Quent Capital LLC grew its stake in shares of Ovintiv by 146.5% during the 1st quarter. Quent Capital LLC now owns 1,134 shares of the company's stock worth $49,000 after purchasing an additional 674 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Trading Up 4.2%

Shares of NYSE:OVV opened at $40.8850 on Monday. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.18. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. 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 business's 50 day moving average price is $40.04 and its 200-day moving average price is $38.98.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.92 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. On average, equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.30 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ovintiv's dividend payout ratio (DPR) is presently 53.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Cowen raised shares of Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group raised shares of Ovintiv from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $47.00 to $51.00 in a research note on Tuesday, July 1st. Wells Fargo & Company dropped their price objective on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, June 16th. UBS Group increased their target price on Ovintiv from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Mizuho decreased their target price on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $53.07.

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.

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