Ovintiv Inc. (NYSE:OVV) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 572,645 shares of the company's stock after buying an additional 26,195 shares during the quarter. Mackenzie Financial Corp owned 0.22% of Ovintiv worth $24,509,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OVV. Price T Rowe Associates Inc. MD boosted its stake in Ovintiv by 1,577.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company's stock worth $99,587,000 after purchasing an additional 2,312,292 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Ovintiv by 243.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,564,698 shares of the company's stock valued at $103,870,000 after acquiring an additional 1,818,337 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Ovintiv by 69.7% during the 4th quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock valued at $132,992,000 after acquiring an additional 1,348,221 shares during the last quarter. Webs Creek Capital Management LP purchased a new stake in Ovintiv in the 4th quarter valued at about $54,086,000. Finally, Freestone Grove Partners LP purchased a new stake in Ovintiv in the 4th quarter valued at about $45,243,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Stock Performance

Shares of OVV stock traded down $1.75 during trading hours on Friday, hitting $39.43. The stock had a trading volume of 3,191,481 shares, compared to its average volume of 3,616,034. The firm has a market capitalization of $10.13 billion, a PE ratio of 17.45, a PEG ratio of 5.11 and a beta of 1.08. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $47.18. The stock's 50 day moving average is $39.53 and its 200 day moving average is $39.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43.

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

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. Ovintiv's dividend payout ratio is 53.10%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $47.00 to $51.00 in a report on Tuesday, July 1st. Barclays boosted their price objective on shares of Ovintiv from $55.00 to $57.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Wells Fargo & Company cut their price target on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, June 16th. TD Cowen upgraded shares of Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Citigroup set a $54.00 price target on shares of Ovintiv and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $53.94.

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.