Ovintiv Inc. $OVV Holdings Raised by DRW Securities LLC

Key Points

• DRW Securities LLC increased its investment in Ovintiv Inc. by 26.5%, boosting its holdings to approximately $2.55 million in the 1st quarter.
• Analyst ratings for Ovintiv show a consensus rating of "Buy" with a price target of $53.07; Barclays and Goldman Sachs have recently upgraded their price targets.
• Ovintiv has declared a quarterly dividend of $0.30 per share, with a payment date set for September 29th, reflecting an annual yield of 2.8%.

DRW Securities LLC boosted its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,475 shares of the company's stock after buying an additional 12,456 shares during the quarter. DRW Securities LLC's holdings in Ovintiv were worth $2,546,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Colonial Trust Co SC bought a new stake in shares of Ovintiv in the 4th quarter valued at approximately $28,000. Harbour Investments Inc. boosted its holdings in Ovintiv by 143.8% in the first quarter. Harbour Investments Inc. now owns 919 shares of the company's stock worth $39,000 after purchasing an additional 542 shares during the period. Gen Wealth Partners Inc increased its stake in Ovintiv by 91.8% during the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company's stock valued at $43,000 after purchasing an additional 484 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Ovintiv during the first quarter worth $48,000. Finally, Quent Capital LLC raised its holdings in shares of Ovintiv by 146.5% during the first quarter. Quent Capital LLC now owns 1,134 shares of the company's stock worth $49,000 after purchasing an additional 674 shares during the period. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Ovintiv from $55.00 to $57.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Mizuho reduced their price target on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. TD Cowen upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and raised their price target for the stock from $47.00 to $51.00 in a research report on Tuesday, July 1st. Finally, Scotiabank raised their price target on shares of Ovintiv from $48.00 to $51.00 and gave the stock a "sector outperform" rating in a research 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 stock currently has an average rating of "Buy" and an average price target of $53.07.

Ovintiv Price Performance

Shares of OVV stock traded down $1.46 during midday trading on Wednesday, reaching $41.30. 2,948,104 shares of the company were exchanged, compared to its average volume of 2,723,516. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $47.18. The company has a market cap of $10.61 billion, a P/E ratio of 7.47, a PEG ratio of 5.35 and a beta of 1.08. The company's 50 day moving average price is $40.21 and its two-hundred day moving average price is $38.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results 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 return on equity of 14.24% and a net margin of 6.46%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. On average, sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Ovintiv's dividend payout ratio is presently 53.10%.

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.