GTS Securities LLC Purchases 25,683 Shares of Ovintiv Inc. (NYSE:OVV)

GTS Securities LLC raised its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 987.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,283 shares of the company's stock after purchasing 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OVV. Park Avenue Securities LLC increased its stake in shares of Ovintiv by 8.9% in the fourth quarter. Park Avenue Securities LLC now owns 6,845 shares of the company's stock valued at $277,000 after buying an additional 558 shares during the period. Merit Financial Group LLC acquired a new stake in Ovintiv during the 4th quarter worth about $333,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Ovintiv by 100.8% in the 4th 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. Nisa Investment Advisors LLC grew its stake in shares of Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock valued at $2,647,000 after buying an additional 231 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Ovintiv by 10.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 33,171 shares of the company's stock valued at $1,343,000 after buying an additional 3,212 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Morgan Stanley restated an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Mizuho cut their target price on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $55.65.

Ovintiv Price Performance

Shares of Ovintiv stock traded down $0.11 during trading on Wednesday, hitting $36.42. The stock had a trading volume of 3,795,242 shares, compared to its average volume of 3,263,583. The business's 50-day moving average is $36.39 and its 200 day moving average is $40.36. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $51.72. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 4.83 and a beta of 1.14. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.22. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The company had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.23 billion. As a group, sell-side analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

About Ovintiv

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.