Impact Partnership Wealth LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,024 shares of the company's stock, valued at approximately $386,000.
Other large investors also recently bought and sold shares of the company. Colonial Trust Co SC purchased a new position in shares of Ovintiv during the fourth quarter valued at $28,000. Mizuho Bank Ltd. acquired a new position in Ovintiv in the fourth quarter valued at approximately $40,000. Optiver Holding B.V. purchased a new stake in shares of Ovintiv in the fourth quarter valued at approximately $40,000. Quent Capital LLC increased its position 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 in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Ovintiv during the first quarter worth approximately $68,000. 83.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on OVV. Citigroup set a $54.00 target price on Ovintiv and gave the company a "buy" rating in a report on Wednesday, July 2nd. Wells Fargo & Company dropped their price target on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Monday, June 16th. The Goldman Sachs Group raised Ovintiv from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $47.00 to $51.00 in a report on Tuesday, July 1st. Scotiabank increased their target price on Ovintiv from $48.00 to $51.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Finally, BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $53.81.
View Our Latest Analysis on OVV
Ovintiv Stock Down 2.9%
Shares of OVV stock traded down $1.17 during trading hours on Monday, reaching $38.89. The company had a trading volume of 3,454,062 shares, compared to its average volume of 3,589,420. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $48.35. The stock's fifty day simple moving average is $38.90 and its 200 day simple moving average is $39.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $10.10 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08.
Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.22. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. As a group, sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.
Ovintiv Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, June 13th. Ovintiv's payout ratio is presently 51.06%.
Ovintiv Company Profile
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Free Report)
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.
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