Quantinno Capital Management LP Has $15.38 Million Stake in Ovintiv Inc. $OVV

Quantinno Capital Management LP increased its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 222.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,040 shares of the company's stock after purchasing an additional 178,621 shares during the quarter. Quantinno Capital Management LP owned approximately 0.09% of Ovintiv worth $15,377,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. BCS Private Wealth Management Inc. acquired a new position in Ovintiv in the fourth quarter worth about $976,000. UBS Group AG boosted its holdings in Ovintiv by 8.3% during the fourth quarter. UBS Group AG now owns 997,177 shares of the company's stock valued at $39,079,000 after purchasing an additional 76,846 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Ovintiv by 317.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 187,800 shares of the company's stock valued at $7,373,000 after purchasing an additional 142,800 shares during the period. Intech Investment Management LLC bought a new stake in shares of Ovintiv in the 4th quarter valued at approximately $5,045,000. Finally, Pacific Heights Asset Management LLC grew its stake in shares of Ovintiv by 23.7% in the 4th quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the company's stock valued at $23,514,000 after purchasing an additional 115,000 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings upgraded Ovintiv from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Citigroup increased their price objective on Ovintiv from $66.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday. Stephens reissued a "positive" rating and set a $69.00 price objective on shares of Ovintiv in a report on Friday, July 24th. Wells Fargo & Company upgraded shares of Ovintiv from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $57.00 to $80.00 in a research note on Monday, June 22nd. Finally, Scotiabank raised shares of Ovintiv from an "outperform" rating to a "buy" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.89.

Ovintiv Price Performance

Shares of OVV stock opened at $62.40 on Monday. Ovintiv Inc. has a 52-week low of $35.47 and a 52-week high of $64.61. The stock has a market cap of $17.19 billion, a PE ratio of 17.63 and a beta of 0.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.01. The firm's 50 day moving average price is $56.50 and its two-hundred day moving average price is $54.00.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.20). Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, analysts forecast that Ovintiv Inc. will post 6.87 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.20 annualized dividend and a yield of 1.9%. Ovintiv's dividend payout ratio is presently 33.90%.

Ovintiv Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv's upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company's core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.

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