Axa S.A. increased its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 56.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 21,715 shares of the company's stock after acquiring an additional 7,853 shares during the period. Axa S.A.'s holdings in Ovintiv were worth $879,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OVV. MassMutual Private Wealth & Trust FSB boosted its holdings in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of 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 buying an additional 335 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ovintiv during the fourth quarter worth approximately $40,000. Optiver Holding B.V. bought a new stake in shares of Ovintiv in the fourth quarter worth $40,000. Finally, Cullen Frost Bankers Inc. raised its holdings in Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Ovintiv Stock Up 2.3 %
Shares of Ovintiv stock opened at $36.13 on Friday. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $51.72. The company has a market capitalization of $9.41 billion, a P/E ratio of 4.79 and a beta of 1.14. The business's fifty day moving average price is $37.03 and its two-hundred day moving average price is $40.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.
Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. As a group, research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.
Ovintiv Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued 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 yield of 3.32%. Ovintiv's payout ratio is 51.06%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on OVV. Morgan Stanley reissued an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a research report on Tuesday, April 15th. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Barclays decreased their target price on Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $55.76.
Read Our Latest Stock Analysis on Ovintiv
About Ovintiv
(
Free Report)
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.
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