GF Fund Management CO. LTD. Acquires Shares of 80,184 Ovintiv Inc. (NYSE:OVV)

GF Fund Management CO. LTD. acquired a new position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 80,184 shares of the company's stock, valued at approximately $3,247,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OVV. Colonial Trust Co SC bought a new position in Ovintiv in the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC raised its holdings in Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after buying an additional 335 shares during the last quarter. Mizuho Bank Ltd. bought a new position in Ovintiv in the 4th quarter valued at approximately $40,000. Finally, Optiver Holding B.V. acquired a new stake in Ovintiv during the 4th quarter worth approximately $40,000. Institutional investors own 83.81% of the company's stock.

Ovintiv Trading Down 1.1%

Shares of Ovintiv stock traded down $0.41 on Friday, reaching $36.12. 1,543,774 shares of the company's stock were exchanged, compared to its average volume of 3,255,135. The company has a market capitalization of $9.38 billion, a P/E ratio of 4.79 and a beta of 1.14. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $51.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm's 50-day moving average is $36.15 and its two-hundred day moving average is $40.30.

Ovintiv (NYSE:OVV - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. Sell-side analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. Ovintiv's dividend payout ratio is currently 51.06%.

Analyst Ratings Changes

OVV has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating and issued a $50.00 price objective on shares of Ovintiv in a report on Tuesday, April 15th. Barclays cut their target price on Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $55.65.

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.