MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 1,393.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,155 shares of the company's stock after purchasing an additional 14,140 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Ovintiv were worth $614,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock worth $1,193,272,000 after buying an additional 451,947 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ovintiv by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company's stock worth $225,265,000 after buying an additional 683,700 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position 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 worth $137,134,000 after acquiring an additional 3,203,087 shares during the last quarter. AQR Capital Management LLC grew its stake in Ovintiv by 69.7% during the 4th quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock valued at $132,992,000 after acquiring an additional 1,348,221 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Ovintiv by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company's stock valued at $118,530,000 after acquiring an additional 8,168 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Ovintiv Stock Down 2.0%
Shares of Ovintiv stock traded down $0.73 on Friday, hitting $35.80. 24,051,027 shares of the company's stock traded hands, compared to its average volume of 3,344,408. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $51.72. 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 stock has a market cap of $9.30 billion, a P/E ratio of 4.75 and a beta of 1.14. The firm's 50-day moving average is $36.15 and its 200 day moving average is $40.30.
Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.22. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. Equities analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.
Ovintiv Dividend Announcement
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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, June 13th. Ovintiv's payout ratio is currently 51.06%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Mizuho lowered their price target on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $55.65.
Check Out Our Latest Report 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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