Ovintiv Inc. $OVV is Birchview Capital LP’s 4th Largest Position

Birchview Capital LP lifted its position in Ovintiv Inc. (NYSE:OVV) by 105.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,500 shares of the company’s stock after purchasing an additional 55,300 shares during the quarter. Ovintiv makes up 4.1% of Birchview Capital LP’s investment portfolio, making the stock its 4th biggest holding. Birchview Capital LP’s holdings in Ovintiv were worth $4,090,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Burney Co. increased its holdings in shares of Ovintiv by 690.5% in the 2nd quarter. Burney Co. now owns 67,091 shares of the company’s stock valued at $2,553,000 after acquiring an additional 58,604 shares during the period. BNP Paribas Financial Markets boosted its stake in Ovintiv by 54.3% during the 1st quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock worth $41,211,000 after purchasing an additional 338,866 shares during the period. Raymond James Financial Inc. grew its position in Ovintiv by 204.2% during the 1st quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock worth $24,988,000 after purchasing an additional 391,923 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Ovintiv by 11.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 241,568 shares of the company’s stock valued at $9,192,000 after purchasing an additional 23,968 shares during the period. Finally, Lifestyle Asset Management Inc. increased its stake in Ovintiv by 46.8% in the second quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company’s stock valued at $1,072,000 after purchasing an additional 8,987 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OVV shares. JPMorgan Chase & Co. decreased their target price on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. UBS Group increased their price objective on Ovintiv from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. National Bankshares dropped their target price on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Roth Capital started coverage on Ovintiv in a research note on Monday, October 13th. They set a “neutral” rating and a $42.00 price target for the company. Finally, Citigroup decreased their price target on Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.89.

Ovintiv Trading Down 0.4%

NYSE:OVV opened at $40.33 on Friday. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $46.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a fifty day moving average price of $38.84 and a two-hundred day moving average price of $39.77. The stock has a market capitalization of $10.21 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 1.00 and a beta of 0.77.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, sell-side analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 15th. Ovintiv’s dividend payout ratio is presently 131.87%.

Insiders Place Their Bets

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $42.50, for a total value of $2,125,000.00. Following the completion of the transaction, the chief operating officer directly owned 155,867 shares of the company’s stock, valued at approximately $6,624,347.50. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

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.