Ovintiv Inc. $OVV Stock Holdings Increased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Ovintiv Inc. by 2.6% in Q1, owning approximately 5.7 million shares valued at $244.3 million.
• Ovintiv's stock performance showed a recent trading price of $38.96, with the company reporting a net margin of 6.46% and a quarterly revenue of $1.79 billion.
• The company announced a quarterly dividend of $0.30 per share, translating to an annualized yield of 3.1%, with a payout ratio of 53.10%.

Dimensional Fund Advisors LP increased its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,708,987 shares of the company's stock after acquiring an additional 146,749 shares during the period. Dimensional Fund Advisors LP owned approximately 2.19% of Ovintiv worth $244,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Ovintiv by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,423,206 shares of the company's stock valued at $1,302,113,000 after acquiring an additional 959,711 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ovintiv by 383.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company's stock valued at $396,267,000 after acquiring an additional 7,344,796 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Ovintiv by 69.7% in the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock valued at $132,992,000 after acquiring an additional 1,348,221 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ovintiv by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,945,159 shares of the company's stock valued at $126,053,000 after acquiring an additional 18,490 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Ovintiv by 23.7% in the 4th quarter. Northern Trust Corp now owns 2,612,740 shares of the company's stock valued at $105,816,000 after acquiring an additional 501,156 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Trading Up 4.2%

OVV stock traded up $1.6450 during mid-day trading on Friday, reaching $40.8850. 3,310,127 shares of the stock traded hands, compared to its average volume of 3,258,152. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $47.18. The company has a market cap of $10.51 billion, a P/E ratio of 18.09, a P/E/G ratio of 5.10 and a beta of 1.10. The stock's fifty day moving average is $40.04 and its 200-day moving average is $39.00.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.92 billion. As a group, sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current 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 paid a dividend of $0.30 per share. The ex-dividend date of this dividend 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 is currently 53.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Ovintiv from a "neutral" rating to a "buy" rating and upped their price target for the company from $47.00 to $51.00 in a report on Tuesday, July 1st. Barclays upped their price target on shares of Ovintiv from $55.00 to $57.00 and gave the company an "overweight" rating in a report on Friday, July 25th. UBS Group upped their price target on shares of Ovintiv from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday. Mizuho cut 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 upped 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 research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently 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.