Ovintiv Inc. (NYSE:OVV) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 1,393.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,155 shares of the company's stock after buying an additional 14,140 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Ovintiv were worth $614,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Ovintiv by 2.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock valued at $412,000 after purchasing an additional 276 shares during the period. Fifth Third Bancorp increased its holdings in shares of Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock valued at $97,000 after acquiring an additional 282 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock valued at $830,000 after acquiring an additional 300 shares during the period. Bessemer Group Inc. increased its holdings in shares of 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 acquiring an additional 310 shares during the period. Finally, Smartleaf Asset Management LLC increased 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 valued at $32,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OVV shares. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Mizuho cut their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley reiterated an "overweight" rating and issued a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $55.00 to $57.00 in a report on Monday, March 24th. Finally, Williams Trading set a $58.00 price target on Ovintiv in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $55.65.

Ovintiv Stock Performance

Shares of NYSE OVV traded up $0.78 during mid-day trading on Monday, hitting $36.60. The stock had a trading volume of 3,919,413 shares, compared to its average volume of 3,344,048. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50 day moving average of $35.85 and a two-hundred day moving average of $40.16. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $51.59. The firm has a market cap of $9.51 billion, a PE ratio of 4.85 and a beta of 1.14.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.22. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. Research analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

Ovintiv 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.