Ovintiv Inc. (NYSE:OVV) Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,123,668 shares of the company's stock after acquiring an additional 15,795 shares during the quarter. GW&K Investment Management LLC owned 0.43% of Ovintiv worth $48,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in Ovintiv by 2.8% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock worth $412,000 after purchasing an additional 276 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Ovintiv by 5.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the company's stock worth $239,000 after acquiring an additional 297 shares during the period. Bessemer Group Inc. raised its holdings in Ovintiv by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock valued at $2,837,000 after buying an additional 310 shares during the period. UMB Bank n.a. grew its position in Ovintiv by 16.9% in the 1st quarter. UMB Bank n.a. now owns 2,890 shares of the company's stock valued at $124,000 after acquiring an additional 417 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Ovintiv by 0.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 69,212 shares of the company's stock valued at $2,962,000 after acquiring an additional 420 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

OVV stock traded down $1.17 during trading on Monday, hitting $38.89. 3,454,062 shares of the company's stock traded hands, compared to its average volume of 3,366,220. The business has a fifty day simple moving average of $38.90 and a 200 day simple moving average of $39.66. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $48.35.

Ovintiv (NYSE:OVV - Get Free Report) last released 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. Ovintiv had a net margin of 6.84% and a return on equity of 14.89%. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.23 billion. As a group, research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a report on Monday, June 16th. Barclays lifted their price objective on Ovintiv from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Mizuho lowered their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Citigroup set a $54.00 price target on Ovintiv and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $55.00 to $57.00 in a report on Monday, March 24th. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $53.81.

Ovintiv Company 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.