GW&K Investment Management LLC raised its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,123,668 shares of the company's stock after purchasing an additional 15,795 shares during the period. GW&K Investment Management LLC owned approximately 0.43% of Ovintiv worth $48,093,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its holdings in Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after acquiring an additional 3,203,087 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 worth $99,587,000 after purchasing an additional 2,312,292 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings 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 worth $103,870,000 after purchasing an additional 1,818,337 shares during the last quarter. AQR Capital Management LLC increased its stake in Ovintiv by 69.7% during the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock worth $132,992,000 after acquiring an additional 1,348,221 shares during the last quarter. Finally, Webs Creek Capital Management LP bought a new stake in Ovintiv during the fourth quarter worth approximately $54,086,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Ovintiv Price Performance
Shares of NYSE OVV traded up $0.18 during mid-day trading on Wednesday, reaching $39.43. The company had a trading volume of 3,388,547 shares, compared to its average volume of 3,366,380. Ovintiv Inc. has a one year low of $29.80 and a one year high of $48.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. The business's 50-day simple moving average is $38.90 and its 200 day simple moving average is $39.66. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.17 and a beta of 1.08.
Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.20 by $0.22. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. On average, research analysts predict that Ovintiv Inc. will post 5.59 earnings per share 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 paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.
Analyst Ratings Changes
A number of brokerages recently commented on OVV. Mizuho reduced their price objective on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, June 16th. Citigroup set a $54.00 price target on Ovintiv and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a research note on Tuesday, April 15th. Finally, Scotiabank increased their price target on Ovintiv from $48.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $53.81.
Get Our Latest Stock Analysis 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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