Siemens Fonds Invest GmbH Takes $1.35 Million Position in Ovintiv Inc. (NYSE:OVV)

Siemens Fonds Invest GmbH purchased a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,290 shares of the company's stock, valued at approximately $1,348,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of 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 buying an additional 276 shares during the period. Fifth Third Bancorp grew its holdings in Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after purchasing an additional 282 shares during the period. Daiwa Securities Group Inc. grew its holdings in Ovintiv by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock worth $830,000 after purchasing an additional 300 shares during the period. Bessemer Group Inc. grew its holdings in Ovintiv by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock worth $2,837,000 after purchasing an additional 310 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after purchasing an additional 335 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OVV has been the subject of a number of research reports. Barclays reduced their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley restated an "overweight" rating and issued a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Wells Fargo & Company raised their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and raised their price target for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Two 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's stock. Based on data from MarketBeat, Ovintiv presently has an average rating of "Buy" and a consensus target price of $55.65.

Ovintiv Stock Performance

Shares of OVV traded up $0.78 during trading hours on Monday, hitting $36.60. The company's stock had a trading volume of 3,919,413 shares, compared to its average volume of 3,344,083. The business has a 50 day simple moving average of $35.85 and a two-hundred day simple moving average of $40.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 4.85 and a beta of 1.14. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $51.59.

Ovintiv (NYSE:OVV - Get Free Report) last posted its 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 business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. On average, equities analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, June 13th. Ovintiv's payout ratio is 51.06%.

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.