Natixis Advisors LLC Raises Holdings in Ovintiv Inc. (NYSE:OVV)

Key Points

• Natixis Advisors LLC has increased its holdings in Ovintiv Inc. by 23% during the first quarter, bringing its value to approximately $1.92 million with a total of 44,770 shares owned.
• Several other institutional investors have also boosted their stakes in Ovintiv, with Alyeska Investment Group increasing its position by 243.6% in the fourth quarter.
• Analysts have mixed ratings for Ovintiv, with a consensus price target of $53.47, reflecting an average "Buy" rating across multiple reports.

Natixis Advisors LLC lifted its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,770 shares of the company's stock after purchasing an additional 8,377 shares during the quarter. Natixis Advisors LLC's holdings in Ovintiv were worth $1,916,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Ovintiv by 1,577.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company's stock valued at $99,587,000 after buying an additional 2,312,292 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of Ovintiv by 243.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,564,698 shares of the company's stock valued at $103,870,000 after buying an additional 1,818,337 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ovintiv by 69.7% in the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock valued at $132,992,000 after buying an additional 1,348,221 shares in the last quarter. Webs Creek Capital Management LP purchased a new stake in shares of Ovintiv in the fourth quarter valued at approximately $54,086,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Ovintiv in the fourth quarter valued at approximately $45,243,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Trading Up 1.7%

Shares of Ovintiv stock traded up $0.67 during trading hours on Tuesday, hitting $39.60. The company's stock had a trading volume of 2,057,903 shares, compared to its average volume of 3,576,847. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $47.18. The firm has a fifty day moving average of $39.98 and a 200-day moving average of $39.22. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 4.83 and a beta of 1.10. 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 (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.92 billion. Research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

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

Wall Street Analyst Weigh In

OVV has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 price target on shares of Ovintiv in a research note on Tuesday, April 15th. TD Cowen raised Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th. Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays lifted their price target on Ovintiv from $55.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of "Buy" and an average price target of $53.47.

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.