Cerity Partners LLC Has $5.07 Million Stake in Ovintiv Inc. (NYSE:OVV)

Cerity Partners LLC increased its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 76.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 118,462 shares of the company's stock after buying an additional 51,213 shares during the period. Cerity Partners LLC's holdings in Ovintiv were worth $5,070,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ovintiv by 1,732.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock worth $137,134,000 after acquiring an additional 3,203,087 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Ovintiv by 1,577.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company's stock valued at $99,587,000 after buying an additional 2,312,292 shares during the period. Alyeska Investment Group L.P. increased its stake in Ovintiv by 243.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,564,698 shares of the company's stock valued at $103,870,000 after buying an additional 1,818,337 shares during the period. AQR Capital Management LLC increased its stake in shares of Ovintiv by 69.7% during the 4th quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock worth $132,992,000 after purchasing an additional 1,348,221 shares during the last quarter. Finally, Webs Creek Capital Management LP acquired a new position in shares of Ovintiv during the 4th quarter worth $54,086,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OVV shares. Citigroup set a $54.00 price objective on shares of Ovintiv and gave the stock a "buy" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group upgraded Ovintiv from a "neutral" rating to a "buy" rating and increased their target price for the company from $47.00 to $51.00 in a research note on Tuesday, July 1st. TD Cowen upgraded Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th. Mizuho reduced their price target on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Scotiabank increased their price target on shares of Ovintiv from $48.00 to $51.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $53.81.

Ovintiv Price Performance

OVV traded up $0.03 during midday trading on Friday, hitting $40.05. The company had a trading volume of 2,812,264 shares, compared to its average volume of 3,365,865. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $48.35. The firm's 50-day simple moving average is $38.90 and its 200-day simple moving average is $39.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $10.41 billion, a PE ratio of 17.04, a P/E/G ratio of 2.22 and a beta of 1.08.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings data 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. Ovintiv had a net margin of 6.84% and a return on equity of 14.89%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Equities research analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.00%. The ex-dividend date was Friday, June 13th. Ovintiv's dividend payout ratio (DPR) is currently 51.06%.

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.