Ovintiv Inc. (NYSE:OVV) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 204.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,515 shares of the company's stock after acquiring an additional 21,828 shares during the period. Tidal Investments LLC's holdings in Ovintiv were worth $1,317,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OVV. Park Avenue Securities LLC boosted its position in shares of Ovintiv by 8.9% in the fourth quarter. Park Avenue Securities LLC now owns 6,845 shares of the company's stock worth $277,000 after acquiring an additional 558 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Ovintiv in the fourth quarter worth approximately $333,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Ovintiv by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock worth $2,647,000 after acquiring an additional 231 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Ovintiv by 10.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,171 shares of the company's stock worth $1,343,000 after acquiring an additional 3,212 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OVV shares. Barclays cut their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock 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. National Bankshares raised their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, Mizuho dropped their price objective on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $55.65.

Ovintiv Stock Performance

Shares of OVV traded down $0.11 during midday trading on Wednesday, hitting $36.42. 3,795,242 shares of the stock traded hands, compared to its average volume of 3,259,355. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $51.72. The firm has a market capitalization of $9.46 billion, a PE ratio of 4.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The business's 50 day moving average price is $36.39 and its two-hundred day moving average price is $40.36.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. Equities research analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv's payout ratio is currently 51.06%.

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.