Ovintiv Inc. (NYSE:OVV) Stock Holdings Raised by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in Ovintiv Inc. by 27% in the first quarter, owning 36,997 shares valued at approximately $1.58 million.
• Analysts have given Ovintiv a consensus Buy rating with a price target of $53.47, following multiple upgrades from various brokerages.
• Ovintiv announced a quarterly dividend of $0.30 per share, with a dividend yield of 3.0%, which will be paid on September 29th to stockholders of record by September 15th.

Cetera Investment Advisers increased its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,997 shares of the company's stock after buying an additional 7,869 shares during the quarter. Cetera Investment Advisers' holdings in Ovintiv were worth $1,583,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. acquired a new stake in Ovintiv in the 1st quarter valued at approximately $211,000. Convergence Investment Partners LLC acquired a new stake in Ovintiv in the 1st quarter valued at approximately $1,271,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Ovintiv by 2.7% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 125,556 shares of the company's stock valued at $5,374,000 after purchasing an additional 3,357 shares during the last quarter. Obermeyer Wealth Partners acquired a new stake in Ovintiv in the 1st quarter valued at approximately $212,000. Finally, GW&K Investment Management LLC increased its holdings in Ovintiv by 1.4% in the 1st quarter. GW&K Investment Management LLC now owns 1,123,668 shares of the company's stock valued at $48,093,000 after purchasing an additional 15,795 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

OVV has been the subject of several research reports. Barclays lifted their target price on shares of Ovintiv from $55.00 to $57.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Mizuho dropped their target price on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Scotiabank lifted their target price on shares of Ovintiv from $48.00 to $51.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Citigroup set a $54.00 target price on shares of Ovintiv and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, TD Cowen upgraded shares of Ovintiv to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Ovintiv currently has a consensus rating of "Buy" and an average target price of $53.47.

Ovintiv Stock Up 1.7%

Ovintiv stock traded up $0.67 during midday trading on Tuesday, hitting $39.60. 2,064,112 shares of the stock were exchanged, compared to its average volume of 3,429,865. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.18. The firm has a market cap of $10.18 billion, a P/E ratio of 17.52, a P/E/G ratio of 4.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The company has a 50 day moving average price of $40.01 and a two-hundred day moving average price of $39.22.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.92 billion. On average, sell-side analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

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

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.