Ovintiv Inc. (NYSE:OVV) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,351,311 shares of the company's stock after selling 39,187 shares during the period. Victory Capital Management Inc. owned 0.52% of Ovintiv worth $57,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Ovintiv by 2.8% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock valued at $412,000 after acquiring an additional 276 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Ovintiv by 5.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the company's stock valued at $239,000 after purchasing an additional 297 shares during the period. Bessemer Group Inc. lifted its stake in shares of Ovintiv by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock valued at $2,837,000 after purchasing an additional 310 shares during the period. UMB Bank n.a. lifted its stake in shares of Ovintiv by 16.9% in the 1st quarter. UMB Bank n.a. now owns 2,890 shares of the company's stock valued at $124,000 after purchasing an additional 417 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Ovintiv by 0.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 69,212 shares of the company's stock valued at $2,962,000 after purchasing an additional 420 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on OVV shares. Barclays boosted their price target on shares of Ovintiv from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. 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 report on Monday, June 16th. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and upped their target price for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, The Goldman Sachs Group raised shares of Ovintiv from a "neutral" rating to a "buy" rating and upped their target price for the company from $47.00 to $51.00 in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of "Buy" and an average price target of $53.81.

Ovintiv Price Performance

NYSE:OVV traded up $0.37 during mid-day trading on Tuesday, hitting $39.28. 2,634,446 shares of the company's stock traded hands, compared to its average volume of 3,366,296. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. The firm's 50 day simple moving average is $38.90 and its 200 day simple moving average is $39.66. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $48.35. The company has a market cap of $10.20 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $2.23 billion. Sell-side analysts expect that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.30 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 3.06%. Ovintiv's payout ratio is 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.