Aware Super Pty Ltd as trustee of Aware Super Takes $513,000 Position in Ovintiv Inc. $OVV

Key Points

• Aware Super Pty Ltd has taken a new position in Ovintiv Inc., purchasing 13,481 shares valued at approximately $513,000 during the second quarter.
• Several large investors have significantly increased their stakes in Ovintiv, with Charles Schwab and Atlas Capital Advisors increasing their holdings by 383.8% and 1681.1% respectively.
• Ovintiv reported Q2 earnings of $1.02 EPS, missing the consensus estimate, along with a recent quarterly dividend payment of $0.30 per share, providing a yield of 3.2%.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Ovintiv Inc. (NYSE:OVV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,481 shares of the company's stock, valued at approximately $513,000.

Several other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors Inc. lifted its holdings in shares of Ovintiv by 1,681.1% during the first quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company's stock worth $594,000 after purchasing an additional 13,096 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Ovintiv by 54.3% during the first quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company's stock worth $41,211,000 after purchasing an additional 338,866 shares during the last quarter. Raymond James Financial Inc. lifted its position in Ovintiv by 204.2% during the first quarter. Raymond James Financial Inc. now owns 583,839 shares of the company's stock valued at $24,988,000 after purchasing an additional 391,923 shares during the period. Charles Schwab Investment Management Inc. grew its position in Ovintiv by 383.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company's stock worth $396,267,000 after purchasing an additional 7,344,796 shares during the period. Finally, Lifestyle Asset Management Inc. raised its stake in shares of Ovintiv by 46.8% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company's stock valued at $1,072,000 after buying an additional 8,987 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Stock Performance

Shares of NYSE:OVV opened at $37.27 on Thursday. 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 $40.59 and its 200-day moving average price is $38.74. The firm has a market capitalization of $9.58 billion, a PE ratio of 16.49, a P/E/G ratio of 5.27 and a beta of 0.97. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.18.

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

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a dividend of $0.30 per share. The ex-dividend date was Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Ovintiv's payout ratio is presently 53.10%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group upped their target price on Ovintiv from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ovintiv in a report on Wednesday, October 8th. Mizuho cut their price target on Ovintiv from $58.00 to $50.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. The Goldman Sachs Group upgraded Ovintiv from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $47.00 to $51.00 in a research report on Tuesday, July 1st. Finally, Zacks Research lowered shares of Ovintiv from a "hold" rating to a "strong sell" rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.29.

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.

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