Janney Montgomery Scott LLC Has $231,000 Position in Ovintiv Inc. $OVV

Key Points

• Janney Montgomery Scott LLC reduced its stake in Ovintiv Inc. by 76.4%, now holding 6,079 shares valued at $231,000 as of the latest reporting period.
• Several institutional investors, including Charles Schwab and AQR Capital Management, significantly increased their positions in Ovintiv during the 1st quarter.
• Wall Street analysts have mixed opinions on Ovintiv's stock, with price targets ranging from $38 to $54, reflecting varied ratings from "strong buy" to "strong sell".

Janney Montgomery Scott LLC reduced its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 76.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,079 shares of the company's stock after selling 19,681 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ovintiv were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OVV. Charles Schwab Investment Management Inc. grew its position in shares of Ovintiv by 383.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company's stock worth $396,267,000 after buying an additional 7,344,796 shares during the period. AQR Capital Management LLC grew its position in shares of Ovintiv by 69.7% during the 1st quarter. AQR Capital Management LLC now owns 5,572,732 shares of the company's stock worth $238,513,000 after buying an additional 2,288,989 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Ovintiv in the 1st quarter valued at approximately $56,865,000. Nuveen LLC acquired a new position in shares of Ovintiv in the 1st quarter valued at approximately $46,603,000. Finally, Amundi grew its position in shares of Ovintiv by 86.3% in the 1st quarter. Amundi now owns 2,231,116 shares of the company's stock valued at $87,125,000 after purchasing an additional 1,033,309 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OVV shares. Wells Fargo & Company decreased their price objective on Ovintiv from $46.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday. Citigroup set a $54.00 price objective on Ovintiv and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Zacks Research lowered Ovintiv from a "hold" rating to a "strong sell" rating in a research report on Friday, September 26th. Morgan Stanley decreased their price objective on Ovintiv from $48.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 14th. Finally, UBS Group boosted their price objective on Ovintiv from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.12.

Ovintiv Trading Up 0.8%

NYSE OVV opened at $36.27 on Tuesday. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 5.29 and a beta of 0.97. The stock's 50 day moving average price is $40.41 and its two-hundred day moving average price is $38.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $47.18.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.02). Ovintiv had a return on equity of 14.24% and a net margin of 6.46%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. As a group, analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. Ovintiv's dividend payout ratio is currently 53.10%.

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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