Gotham Asset Management LLC Buys 129,891 Shares of Ovintiv Inc. (NYSE:OVV)

Gotham Asset Management LLC grew its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 141.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 221,580 shares of the company's stock after acquiring an additional 129,891 shares during the quarter. Gotham Asset Management LLC owned about 0.09% of Ovintiv worth $8,974,000 as of its most recent SEC filing.

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

Ovintiv Price Performance

Shares of OVV traded down $0.30 during mid-day trading on Friday, hitting $37.33. 4,871,972 shares of the company traded hands, compared to its average volume of 3,233,826. Ovintiv Inc. has a one year low of $29.80 and a one year high of $51.72. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $37.05 and a 200 day moving average of $40.58. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 4.95 and a beta of 1.14.

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

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 3.21%. Ovintiv's dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OVV. Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bankshares lifted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $50.00 price objective on shares of Ovintiv in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $55.65.

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.