Quantinno Capital Management LP Acquires 14,628 Shares of Ovintiv Inc. (NYSE:OVV)

Quantinno Capital Management LP increased its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 88.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,176 shares of the company's stock after acquiring an additional 14,628 shares during the quarter. Quantinno Capital Management LP's holdings in Ovintiv were worth $1,263,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC lifted its holdings in Ovintiv by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock worth $2,647,000 after acquiring an additional 231 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Ovintiv by 2.8% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock worth $412,000 after acquiring an additional 276 shares during the period. Fifth Third Bancorp lifted its holdings in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after acquiring an additional 282 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Ovintiv by 1.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock worth $830,000 after acquiring an additional 300 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Ovintiv by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock worth $2,837,000 after acquiring an additional 310 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

Shares of NYSE OVV opened at $35.66 on Friday. The stock has a market cap of $9.26 billion, a PE ratio of 4.73 and a beta of 1.14. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $51.72. 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 stock has a fifty day moving average of $36.73 and a 200-day moving average of $40.49.

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

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 3.37%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's payout ratio is 51.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OVV. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Barclays decreased their target price on Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Morgan Stanley reissued an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their target price on Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Two 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. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $55.65.

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.

Want to see what other hedge funds are holding OVV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ovintiv Inc. (NYSE:OVV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.