Ovintiv Inc. (NYSE:OVV) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in 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 fund owned 1,059,930 shares of the company's stock after purchasing an additional 268,077 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.41% of Ovintiv worth $45,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthquest Corp acquired a new stake in shares of Ovintiv during the first quarter worth $749,000. Asset Management One Co. Ltd. raised its position in Ovintiv by 3.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 97,127 shares of the company's stock worth $4,157,000 after buying an additional 3,058 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Ovintiv by 7.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,673 shares of the company's stock worth $885,000 after buying an additional 1,492 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Ovintiv by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,339 shares of the company's stock worth $271,000 after acquiring an additional 909 shares during the period. Finally, Paradiem LLC acquired a new stake in shares of Ovintiv in the 1st quarter worth $12,338,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target on shares of Ovintiv in a research note on Tuesday, April 15th. Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their price target on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a report on Monday, June 16th. JPMorgan Chase & Co. dropped their price objective on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Mizuho cut their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $54.69.

Ovintiv Price Performance

OVV stock traded down $0.33 on Friday, reaching $38.40. The company had a trading volume of 4,525,850 shares, compared to its average volume of 3,347,057. The company's fifty day moving average is $37.08 and its 200 day moving average is $39.61. The company has a market cap of $9.98 billion, a P/E ratio of 16.34, a PEG ratio of 2.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $49.57.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates 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 14.89% and a net margin of 6.84%. On average, research analysts forecast 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. Investors of record on Friday, June 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, June 13th. Ovintiv's payout ratio is 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.