Pacific Heights Asset Management LLC Has $11.77 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Pacific Heights Asset Management LLC reduced its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 81.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,000 shares of the company's stock after selling 1,240,000 shares during the quarter. Pacific Heights Asset Management LLC owned approximately 0.11% of Ovintiv worth $11,770,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of OVV. Meiji Yasuda Asset Management Co Ltd. raised its position in Ovintiv by 2.8% in the 4th 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 last quarter. Daiwa Securities Group Inc. increased its stake in shares of Ovintiv by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock valued at $830,000 after buying an additional 300 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Ovintiv by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock valued at $2,837,000 after buying an additional 310 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after buying an additional 335 shares in the last quarter. Finally, UMB Bank n.a. lifted 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 worth $124,000 after buying an additional 417 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Trading Down 0.0%

Shares of Ovintiv stock traded down $0.02 during trading on Friday, reaching $40.04. 1,910,731 shares of the company were exchanged, compared to its average volume of 3,341,823. The business has a 50-day moving average price of $37.64 and a 200-day moving average price of $39.54. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 6.81, a P/E/G ratio of 2.15 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.44. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $49.57.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.22. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. Sell-side analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

Wall Street Analysts Forecast Growth

OVV has been the subject of several research reports. Mizuho lowered their price objective on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Citigroup set a $54.00 price target on shares of Ovintiv and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Barclays decreased their price objective on Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $54.47.

Ovintiv Company 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.