Robeco Institutional Asset Management B.V. Increases Position in Ovintiv Inc. (NYSE:OVV)

Robeco Institutional Asset Management B.V. raised its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 33.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,059,930 shares of the company's stock after acquiring an additional 268,077 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.41% of Ovintiv worth $45,365,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OVV. Colonial Trust Co SC acquired a new stake in shares of Ovintiv in the 4th quarter worth $28,000. Smartleaf Asset Management LLC boosted 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 worth $32,000 after purchasing an additional 335 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ovintiv in the 4th quarter worth $40,000. Optiver Holding B.V. acquired a new stake in shares of Ovintiv in the 4th quarter worth $40,000. Finally, Cullen Frost Bankers Inc. boosted 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 worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Performance

Shares of OVV stock traded down $0.29 on Monday, hitting $38.12. The company had a trading volume of 3,185,114 shares, compared to its average volume of 3,332,155. The firm has a market cap of $9.90 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.09 and a beta of 1.09. The company has a 50-day moving average price of $37.28 and a 200-day moving average price of $39.54. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.44. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $49.57.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.23 billion. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. As a group, equities research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.15%. Ovintiv's dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Scotiabank raised Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Barclays lowered their price objective on Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Finally, BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $54.69.

Ovintiv 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.