Interval Partners LP Acquires 20,201 Shares of Ovintiv Inc. (NYSE:OVV)

Interval Partners LP raised its holdings in Ovintiv Inc. (NYSE:OVV) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,913 shares of the company’s stock after purchasing an additional 20,201 shares during the quarter. Interval Partners LP owned 0.07% of Ovintiv worth $7,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of OVV. Colonial Trust Co SC bought a new position in Ovintiv during the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 acquiring an additional 335 shares during the period. Optiver Holding B.V. bought a new position in shares of Ovintiv during the 4th quarter valued at approximately $40,000. Finally, Mizuho Bank Ltd. purchased a new stake in shares of Ovintiv during the 4th quarter worth approximately $40,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Up 2.3%

Ovintiv stock opened at $36.13 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $51.72. The stock has a market cap of $9.41 billion, a P/E ratio of 4.79 and a beta of 1.14. The firm’s fifty day moving average price is $37.03 and its 200-day moving average price is $40.63.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, May 6th. The company reported $1.42 EPS 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 analysts’ expectations of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. Equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv’s dividend payout ratio (DPR) is 51.06%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. National Bankshares increased their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Barclays dropped their price target on Ovintiv from $59.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lifted their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $50.00 target price on shares of Ovintiv in a research report on Tuesday, April 15th. 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 data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $55.76.

Ovintiv Company 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.