Jacobs Levy Equity Management Inc. Purchases 4,480 Shares of Ovintiv Inc. (NYSE:OVV)

Jacobs Levy Equity Management Inc. grew its position in shares of Ovintiv Inc. (NYSE:OVV) by 8.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,305 shares of the company’s stock after acquiring an additional 4,480 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Ovintiv were worth $2,442,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC bought a new position in shares of Ovintiv during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after buying an additional 335 shares during the last quarter. Mizuho Bank Ltd. bought a new position in Ovintiv during the 4th quarter valued at approximately $40,000. Finally, Optiver Holding B.V. purchased a new position in Ovintiv during the fourth quarter valued at $40,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $50.00 target price on shares of Ovintiv in a research note on Tuesday, April 15th. National Bankshares upped their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Williams Trading set a $58.00 price target on shares of Ovintiv in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective 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, Mizuho cut their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv has an average rating of “Buy” and a consensus target price of $55.65.

Ovintiv Trading Down 3.5%

OVV stock opened at $37.63 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 4.99 and a beta of 1.14. The business has a 50 day simple moving average of $37.05 and a two-hundred day simple moving average of $40.58. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $51.72.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data 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 return on equity of 17.87% and a net margin of 20.15%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Research analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv’s dividend payout ratio (DPR) is 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.