Mirae Asset Global Investments Co. Ltd. increased its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 1,150.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,600 shares of the company's stock after purchasing an additional 200,196 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Ovintiv worth $9,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Ovintiv in the 4th quarter valued at approximately $768,000. QRG Capital Management Inc. lifted its holdings in shares of Ovintiv by 4.0% during the fourth quarter. QRG Capital Management Inc. now owns 44,595 shares of the company's stock valued at $1,806,000 after purchasing an additional 1,703 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Ovintiv by 4,132.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock worth $53,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Ovintiv by 48.0% in the 4th quarter. Jones Financial Companies Lllp now owns 6,425 shares of the company's stock worth $260,000 after buying an additional 2,084 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Ovintiv Trading Up 0.5%
Shares of OVV traded up $0.20 during midday trading on Wednesday, hitting $39.51. The stock had a trading volume of 590,518 shares, compared to its average volume of 3,326,614. The stock's 50 day moving average is $37.40 and its 200 day moving average is $39.54. The firm has a market cap of $10.27 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.43 and a quick ratio of 0.43. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $49.57.
Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.22. The company had revenue of $2.38 billion for 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%. As a group, analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.
Ovintiv Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.30 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.04%. Ovintiv's payout ratio is 51.06%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on OVV shares. JPMorgan Chase & Co. dropped their price target on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $58.00 target price on Ovintiv in a research report on Wednesday, March 5th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating and issued a $50.00 price objective on shares of Ovintiv in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, June 16th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $54.47.
View Our Latest Research Report on OVV
About Ovintiv
(
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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