Ovintiv Inc. (NYSE:OVV) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 36.5% in the first quarter, according to its most recent disclosure 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 period. U.S. Capital Wealth Advisors LLC's holdings in Ovintiv were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC acquired a new position in shares of Ovintiv during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC grew its stake in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Ovintiv during the 4th quarter valued at about $40,000. Mizuho Bank Ltd. purchased a new stake in Ovintiv during the 4th quarter valued at about $40,000. Finally, Quent Capital LLC grew its stake in Ovintiv by 146.5% during the 1st quarter. Quent Capital LLC now owns 1,134 shares of the company's stock valued at $49,000 after acquiring an additional 674 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Up 2.5%

Shares of NYSE OVV traded up $1.02 during mid-day trading on Friday, reaching $41.93. The company had a trading volume of 3,424,169 shares, compared to its average volume of 3,349,357. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $38.23 and a two-hundred day simple moving average of $39.62. The stock has a market cap of $10.89 billion, a P/E ratio of 17.84, a PEG ratio of 2.28 and a beta of 1.08. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $49.57.

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

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, June 13th. Ovintiv's payout ratio is currently 51.06%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OVV shares. Mizuho dropped their price objective on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. BMO Capital Markets raised 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 research note on Monday, March 24th. Scotiabank upped their price objective on shares of Ovintiv from $48.00 to $51.00 and gave the company a "sector outperform" rating in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, June 16th. Finally, Barclays increased their price target on shares of Ovintiv from $53.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $54.47.

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.