Robeco Institutional Asset Management B.V. Decreases Stake in Ovintiv Inc. $OVV

Robeco Institutional Asset Management B.V. lowered its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 18.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 862,451 shares of the company's stock after selling 197,479 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.33% of Ovintiv worth $32,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC purchased a new position in Ovintiv in the second quarter worth approximately $35,000. HB Wealth Management LLC lifted its stake in Ovintiv by 17.8% in the second quarter. HB Wealth Management LLC now owns 6,643 shares of the company's stock worth $253,000 after acquiring an additional 1,005 shares during the last quarter. Ruffer LLP purchased a new position in Ovintiv in the second quarter worth approximately $9,744,000. Public Employees Retirement System of Ohio lifted its position in shares of Ovintiv by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,630 shares of the company's stock worth $3,296,000 after buying an additional 666 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Ovintiv by 46.2% during the 2nd quarter. GAMMA Investing LLC now owns 8,118 shares of the company's stock worth $309,000 after buying an additional 2,567 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Stock Up 1.5%

OVV stock opened at $40.15 on Friday. The company has a fifty day moving average price of $40.99 and a 200 day moving average price of $38.98. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $47.18. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 5.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.92 billion. Sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Ovintiv's payout ratio is currently 53.10%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OVV shares. Mizuho reduced their price objective on shares of Ovintiv from $58.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Barclays boosted their price objective on shares of Ovintiv from $55.00 to $57.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Zacks Research downgraded shares of Ovintiv from a "hold" rating to a "strong sell" rating in a research report on Friday, September 26th. TD Cowen upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.73.

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.

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