Atlas Capital Advisors Inc. Acquires 13,096 Shares of Ovintiv Inc. (NYSE:OVV)

Key Points

• Atlas Capital Advisors Inc. increased its holdings in Ovintiv Inc. by 1,681.1% in the 1st quarter, acquiring an additional 13,096 shares, bringing their total to 13,875 shares valued at approximately $594,000.
• Ovintiv recently announced a quarterly dividend of $0.30 per share, representing a 3.0% annual yield, with the payout date set for September 29th.
• The company's stock has a current market capital of $10.25 billion and is rated as "Buy" by analysts with a consensus target price of $53.47.

Atlas Capital Advisors Inc. boosted its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 1,681.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,875 shares of the company's stock after purchasing an additional 13,096 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Ovintiv were worth $594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Concurrent Investment Advisors LLC grew its holdings in Ovintiv by 5.6% in the first quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the company's stock worth $239,000 after purchasing an additional 297 shares during the period. Bessemer Group Inc. lifted its stake in shares of Ovintiv by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock worth $2,837,000 after buying an additional 310 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Ovintiv by 16.9% in the first quarter. UMB Bank n.a. now owns 2,890 shares of the company's stock worth $124,000 after buying an additional 417 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Ovintiv by 0.6% in the first quarter. Crossmark Global Holdings Inc. now owns 69,212 shares of the company's stock worth $2,962,000 after buying an additional 420 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Ovintiv by 9.2% in the first quarter. Kestra Private Wealth Services LLC now owns 5,737 shares of the company's stock worth $246,000 after buying an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Stock Performance

OVV traded up $0.74 during trading on Tuesday, hitting $39.67. The company's stock had a trading volume of 38,503 shares, compared to its average volume of 3,563,561. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. Ovintiv Inc. has a one year low of $29.80 and a one year high of $47.18. The firm has a market cap of $10.20 billion, a PE ratio of 17.59, a P/E/G ratio of 4.83 and a beta of 1.10. The business's 50 day simple moving average is $39.98 and its 200-day simple moving average is $39.22.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.92 billion. As a group, sell-side analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ovintiv's dividend payout ratio is 53.10%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OVV shares. TD Cowen upgraded shares of Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th. Barclays upped their target price on shares of Ovintiv from $55.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Citigroup set a $54.00 target price on shares of Ovintiv and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and upped their target price for the stock from $47.00 to $51.00 in a research note on Tuesday, July 1st. Finally, Morgan Stanley restated an "overweight" rating and set a $50.00 price objective on shares of Ovintiv in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $53.47.

Ovintiv Company 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.