Ovintiv Inc. (NYSE:OVV) Shares Bought by Cwm LLC

CWM LLC increased its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 55.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,551 shares of the company's stock after purchasing an additional 32,354 shares during the period. CWM LLC's holdings in Ovintiv were worth $3,876,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock valued at $1,193,272,000 after acquiring an additional 451,947 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ovintiv by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company's stock worth $225,265,000 after purchasing an additional 683,700 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Ovintiv by 1,732.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after purchasing an additional 3,203,087 shares during the last quarter. AQR Capital Management LLC grew its holdings in Ovintiv by 69.7% during the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock valued at $132,992,000 after purchasing an additional 1,348,221 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Ovintiv by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 2,945,159 shares of the company's stock worth $126,053,000 after buying an additional 18,490 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

OVV has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. 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 report on Tuesday, July 1st. Mizuho lowered their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Scotiabank boosted their target price on shares of Ovintiv from $48.00 to $51.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, TD Cowen raised shares of Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th. Two research 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $53.81.

Ovintiv Price Performance

Ovintiv stock traded up $0.03 during midday trading on Friday, reaching $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 12-month low of $29.80 and a 12-month high of $48.35. The firm's fifty 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 current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $10.41 billion, a P/E 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.20 by $0.22. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.23 billion. As a group, equities analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.00%. Ovintiv's dividend payout ratio is currently 51.06%.

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.