U.S. Capital Wealth Advisors LLC Decreases Position in Ovintiv Inc. (NYSE:OVV)

U.S. Capital Wealth Advisors LLC trimmed its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 36.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,316 shares of the company's stock after selling 29,499 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Ovintiv were worth $2,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Colonial Trust Co SC purchased a new position in shares of Ovintiv in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after buying an additional 335 shares during the period. Mizuho Bank Ltd. purchased a new position in shares of Ovintiv in the 4th quarter valued at about $40,000. Optiver Holding B.V. purchased a new position in shares of Ovintiv in the 4th quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after buying an additional 940 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OVV shares. Morgan Stanley reiterated an "overweight" rating and issued a $50.00 price objective on shares of Ovintiv in a research note on Tuesday, April 15th. Barclays raised their target price on Ovintiv from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday. BMO Capital Markets raised 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 research report on Monday, March 24th. Scotiabank raised Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Mizuho cut their target price on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $54.59.

Ovintiv Stock Performance

Shares of NYSE:OVV traded down $0.61 during trading on Wednesday, reaching $40.51. The company had a trading volume of 2,601,586 shares, compared to its average volume of 3,338,558. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.43 and a quick ratio of 0.43. The stock's fifty day moving average price is $37.96 and its 200 day moving average price is $39.59. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $49.57.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data 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. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. As a group, equities research analysts predict that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Friday, June 13th. Ovintiv's dividend payout ratio is presently 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.