130,598 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,598 shares of the company's stock, valued at approximately $5,289,000. Jefferies Financial Group Inc. owned 0.05% of Ovintiv at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC bought a new stake in Ovintiv in the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased its position in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after buying an additional 360 shares in the last quarter. Smartleaf Asset Management LLC increased its position in 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 in the last quarter. Mizuho Bank Ltd. bought a new stake in Ovintiv in the 4th quarter valued at about $40,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Ovintiv in the 4th quarter worth about $40,000. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Williams Trading set a $58.00 target price on shares of Ovintiv in a report on Wednesday, March 5th. Mizuho lowered their target price on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday. Wells Fargo & Company upped their target price on shares of Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Barclays lowered their target price on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $55.65.

Ovintiv Stock Performance

Shares of OVV stock traded down $0.30 during trading hours on Friday, hitting $37.33. 4,871,972 shares of the company were exchanged, compared to its average volume of 3,233,826. The firm has a fifty day simple moving average of $37.05 and a 200 day simple moving average of $40.58. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $51.72. 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 issued 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 20.15% and a return on equity of 17.87%. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.23 billion. Research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.21%. Ovintiv's payout ratio is currently 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.