U.S. Capital Wealth Advisors LLC Sells 29,499 Shares of Ovintiv Inc. (NYSE:OVV)

U.S. Capital Wealth Advisors LLC lowered its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 36.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,316 shares of the company's stock after selling 29,499 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Ovintiv were worth $2,196,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC bought a new position in Ovintiv in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC grew its position in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Optiver Holding B.V. bought a new position in Ovintiv in the fourth quarter valued at about $40,000. Mizuho Bank Ltd. bought a new position in Ovintiv in the fourth quarter valued at about $40,000. Finally, Quent Capital LLC grew its position in Ovintiv by 146.5% in the first quarter. Quent Capital LLC now owns 1,134 shares of the company's stock valued at $49,000 after acquiring an additional 674 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of recent analyst reports. TD Cowen upgraded Ovintiv to a "strong-buy" rating in a research report on Monday. Wells Fargo & Company cut their price target on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, June 16th. Scotiabank raised Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Citigroup set a $54.00 price objective on Ovintiv and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Barclays lifted their price objective on Ovintiv from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $54.59.

Ovintiv Trading Up 4.6%

NYSE OVV opened at $41.09 on Wednesday. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 2.21 and a beta of 1.08. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $49.57. The business has a 50 day moving average price of $37.96 and a 200-day moving average price of $39.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.44.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.20 by $0.22. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a return on equity of 14.89% and a net margin of 6.84%. As a group, equities analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 2.92%. Ovintiv's dividend payout ratio (DPR) is currently 51.06%.

About Ovintiv

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.