UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 23,256 Shares of Ovintiv Inc. (NYSE:OVV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,879 shares of the company's stock after acquiring an additional 23,256 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.40% of Ovintiv worth $42,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ninepoint Partners LP boosted its holdings in shares of Ovintiv by 16.9% in the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock valued at $9,112,000 after acquiring an additional 32,500 shares in the last quarter. Westpac Banking Corp boosted its holdings in shares of Ovintiv by 64.8% in the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after acquiring an additional 12,340 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Ovintiv in the fourth quarter valued at approximately $25,272,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ovintiv by 19.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company's stock valued at $8,768,000 after acquiring an additional 34,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock valued at $77,508,000 after acquiring an additional 45,147 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays reduced their target price 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. Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating and set a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. Finally, BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of "Buy" and an average target price of $55.65.

Ovintiv Stock Down 1.5%

OVV stock traded down $0.54 during midday trading on Friday, reaching $35.99. The company had a trading volume of 1,183,710 shares, compared to its average volume of 3,253,726. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $51.72. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.35 billion, a P/E ratio of 4.77 and a beta of 1.14. The company has a 50 day moving average of $36.15 and a two-hundred day moving average of $40.30.

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

Ovintiv Dividend Announcement

The firm 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 dividend of $0.30 per share. The ex-dividend date is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.33%. Ovintiv's dividend 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.