GTS Securities LLC Grows Stock Holdings in Ovintiv Inc. (NYSE:OVV)

GTS Securities LLC boosted its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 987.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,283 shares of the company's stock after acquiring an additional 25,683 shares during the period. GTS Securities LLC's holdings in Ovintiv were worth $1,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ninepoint Partners LP raised its position in shares of Ovintiv by 16.9% during the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock valued at $9,112,000 after buying an additional 32,500 shares during the last quarter. Westpac Banking Corp raised its position in shares of Ovintiv by 64.8% during the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after buying an additional 12,340 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Ovintiv during the fourth quarter valued at approximately $25,272,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ovintiv by 19.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company's stock valued at $8,768,000 after buying an additional 34,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ovintiv by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock valued at $77,508,000 after buying an additional 45,147 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OVV shares. Barclays reduced their price objective on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the company from $55.00 to $57.00 in a report on Monday, March 24th. Morgan Stanley reissued an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. Finally, National Bankshares raised their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $55.65.

Ovintiv Trading Down 1.5%

Shares of NYSE:OVV traded down $0.54 on Friday, hitting $35.99. 1,380,414 shares of the company's stock were exchanged, compared to its average volume of 3,254,512. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $51.72. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 4.76 and a beta of 1.14. The business's 50 day simple moving average is $36.15 and its two-hundred day simple moving average is $40.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

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, beating the consensus estimate of $1.20 by $0.22. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. Analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's payout ratio is 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.