Ovintiv Inc. (NYSE:OVV) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 162.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,636 shares of the company's stock after buying an additional 22,050 shares during the period. Pallas Capital Advisors LLC's holdings in Ovintiv were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC purchased a new stake in Ovintiv in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after purchasing an additional 335 shares in the last quarter. Mizuho Bank Ltd. acquired a new position in shares of Ovintiv in the 4th quarter valued at $40,000. Optiver Holding B.V. purchased a new stake in Ovintiv during the fourth quarter worth $40,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Price Performance

NYSE OVV traded up $1.37 during mid-day trading on Friday, hitting $41.90. The stock had a trading volume of 4,425,386 shares, compared to its average volume of 3,386,650. The firm's 50 day moving average is $35.62 and its 200 day moving average is $39.85. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $49.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 5.56 and a beta of 1.09.

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 the consensus estimate of $1.20 by $0.22. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's dividend payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OVV shares. JPMorgan Chase & Co. cut their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company lifted their price objective on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Mizuho cut their price objective 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 raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $57.00 in a report on Monday, March 24th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Ovintiv presently has an average rating of "Buy" and an average price target 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.