18,911 Shares in Ovintiv Inc. $OVV Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,911 shares of the company’s stock, valued at approximately $720,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Ovintiv by 316.7% during the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after acquiring an additional 643 shares during the period. Dogwood Wealth Management LLC acquired a new stake in Ovintiv during the second quarter worth about $35,000. Harbour Investments Inc. raised its stake in Ovintiv by 143.8% during the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock worth $39,000 after acquiring an additional 542 shares during the period. Gen Wealth Partners Inc increased its stake in shares of Ovintiv by 91.8% in the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock valued at $43,000 after purchasing an additional 484 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Ovintiv in the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OVV. Barclays dropped their price target on shares of Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Mizuho dropped their price target on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Zacks Research lowered shares of Ovintiv from a “hold” rating to a “strong sell” rating in a research note on Friday, September 26th. Morgan Stanley dropped their price target on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Citigroup set a $54.00 price target on shares of Ovintiv and gave the company a “buy” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.12.

Ovintiv Trading Down 1.4%

Ovintiv stock opened at $35.94 on Friday. The firm has a 50 day simple moving average of $40.46 and a 200-day simple moving average of $38.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $9.24 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 5.29 and a beta of 0.97. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $47.18.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.92 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. As a group, equities research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $0.30 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Ovintiv’s dividend payout ratio (DPR) is 53.10%.

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.