Lodestone Wealth Management LLC Has $1.36 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Lodestone Wealth Management LLC lifted its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 38.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,845 shares of the company's stock after purchasing an additional 8,872 shares during the period. Lodestone Wealth Management LLC's holdings in Ovintiv were worth $1,363,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Colonial Trust Co SC bought a new position in Ovintiv during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC grew its holdings in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after acquiring an additional 335 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ovintiv in the fourth quarter valued at approximately $40,000. Optiver Holding B.V. bought a new stake in shares of Ovintiv during the fourth quarter worth $40,000. Finally, Cullen Frost Bankers Inc. raised its holdings in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after purchasing an additional 1,000 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Price Performance

Shares of NYSE OVV opened at $40.06 on Thursday. The firm has a fifty day simple moving average of $37.52 and a 200 day simple moving average of $39.54. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $49.57. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $10.41 billion, a PE ratio of 17.05, a P/E/G ratio of 2.14 and a beta of 1.08.

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 company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a net margin of 6.84% and a return on equity of 14.89%. On average, sell-side analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.00%. Ovintiv's dividend payout ratio (DPR) is presently 51.06%.

Analyst Ratings Changes

Several research firms recently weighed in on OVV. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price objective on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a report on Monday, June 16th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Mizuho reduced their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target on shares of Ovintiv in a research report on Tuesday, April 15th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $54.47.

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.

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