SG Americas Securities LLC Buys 170,024 Shares of Ovintiv Inc. (NYSE:OVV)

SG Americas Securities LLC grew its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 5,604.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,058 shares of the company's stock after purchasing an additional 170,024 shares during the period. SG Americas Securities LLC owned 0.07% of Ovintiv worth $7,407,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in Ovintiv by 2.8% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock worth $412,000 after acquiring an additional 276 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Ovintiv by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock worth $830,000 after purchasing an additional 300 shares during the period. Bessemer Group Inc. raised its position in shares of Ovintiv by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock worth $2,837,000 after purchasing an additional 310 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after purchasing an additional 335 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Ovintiv by 16.9% during the 1st quarter. UMB Bank n.a. now owns 2,890 shares of the company's stock valued at $124,000 after purchasing an additional 417 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

Shares of Ovintiv stock traded down $0.09 during trading on Thursday, hitting $40.53. The stock had a trading volume of 3,154,528 shares, compared to its average volume of 3,379,427. The business has a fifty day moving average of $35.46 and a two-hundred day moving average of $39.88. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $49.57. The firm has a market cap of $10.53 billion, a P/E ratio of 5.38 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv (NYSE:OVV - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

Wall Street Analysts Forecast Growth

OVV has been the topic of several analyst reports. Scotiabank raised Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 price objective on shares of Ovintiv in a report on Tuesday, April 15th. Barclays reduced their target price on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $55.00.

About Ovintiv

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.