Integrated Advisors Network LLC Makes New Investment in Ovintiv Inc. (NYSE:OVV)

Integrated Advisors Network LLC bought a new position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 6,165 shares of the company's stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ninepoint Partners LP boosted its stake in Ovintiv by 16.9% during the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock worth $9,112,000 after acquiring an additional 32,500 shares during the last quarter. Westpac Banking Corp raised its holdings in Ovintiv by 64.8% in the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock worth $1,270,000 after purchasing an additional 12,340 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Ovintiv during the fourth quarter worth $25,272,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ovintiv by 19.5% in the 4th 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 period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ovintiv by 2.4% in the 4th 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 in the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Mizuho cut their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Morgan Stanley restated an "overweight" rating and set a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. Finally, Wells Fargo & Company lifted their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $55.00.

Ovintiv Trading Up 3.4%

Shares of NYSE:OVV opened at $41.90 on Friday. The company's 50-day moving average price is $35.84 and its two-hundred day moving average price is $39.78. Ovintiv Inc. has a one year low of $29.80 and a one year high of $49.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $10.89 billion, a PE ratio of 5.56 and a beta of 1.09.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 EPS 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 analysts' expectations of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. On average, equities analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current fiscal 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's payout ratio is presently 51.06%.

Ovintiv Company 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.

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