34,542 Shares in Ovintiv Inc. (NYSE:OVV) Purchased by Nomura Holdings Inc.

Nomura Holdings Inc. acquired a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 34,542 shares of the company's stock, valued at approximately $1,399,000.

A number of other large investors have also modified their holdings of the company. Colonial Trust Co SC acquired a new position in Ovintiv during the fourth quarter worth about $28,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Ovintiv by 71.3% in 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 period. Optiver Holding B.V. purchased a new position in Ovintiv during the fourth quarter worth about $40,000. Finally, Mizuho Bank Ltd. acquired a new position in Ovintiv in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and set a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Barclays decreased their price target on Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, National Bankshares boosted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $55.65.

Ovintiv Stock Down 2.8%

Ovintiv stock traded down $1.04 during mid-day trading on Wednesday, hitting $35.91. The company had a trading volume of 2,911,317 shares, compared to its average volume of 3,237,921. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $51.72. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 4.76 and a beta of 1.14. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $36.93 and a 200 day moving average of $40.55.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.22. The business had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. On average, sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

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.