Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Ovintiv Inc. (NYSE:OVV)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 122,199 shares of the company's stock, valued at approximately $4,949,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock worth $1,193,272,000 after acquiring an additional 451,947 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ovintiv by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company's stock worth $225,265,000 after buying an additional 683,700 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Ovintiv by 1,732.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock worth $137,134,000 after buying an additional 3,203,087 shares during the period. AQR Capital Management LLC grew its position in shares of Ovintiv by 69.7% during the 4th quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock worth $132,992,000 after buying an additional 1,348,221 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Ovintiv by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company's stock worth $118,530,000 after acquiring an additional 8,168 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OVV has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $55.00 to $57.00 in a report on Monday, March 24th. 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 research report on Wednesday, April 23rd. Mizuho cut their price objective on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Williams Trading set a $58.00 target price on shares of Ovintiv in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $55.65.

Ovintiv Price Performance

Ovintiv stock traded down $0.33 during mid-day trading on Thursday, reaching $37.02. 3,068,545 shares of the company's stock traded hands, compared to its average volume of 3,348,868. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $49.57. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 4.91 and a beta of 1.14. The stock has a 50 day moving average of $35.52 and a two-hundred day moving average of $40.07.

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

Ovintiv Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 3.24%. Ovintiv's dividend payout ratio (DPR) is presently 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.