PKO Investment Management Joint Stock Co Invests $344,000 in Ovintiv Inc. (NYSE:OVV)

PKO Investment Management Joint Stock Co acquired a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,500 shares of the company's stock, valued at approximately $344,000.

A number of other large investors also recently modified their holdings of OVV. Colonial Trust Co SC purchased a new position in shares of Ovintiv in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC grew its position 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 buying an additional 335 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Ovintiv in the 4th quarter valued at $40,000. Mizuho Bank Ltd. purchased a new position in shares of Ovintiv in the 4th quarter valued at $40,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and increased their target price for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research report on Wednesday, March 5th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $55.65.

Ovintiv Stock Performance

Shares of OVV stock 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 3,344,083. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week 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. 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 company's 50-day simple moving average is $35.85 and its 200-day simple moving average is $40.16.

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

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's dividend payout ratio (DPR) is presently 51.06%.

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.