Natixis Advisors LLC Acquires 8,377 Shares of Ovintiv Inc. (NYSE:OVV)

Natixis Advisors LLC boosted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 23.0% in the 1st quarter, HoldingsChannel reports. The fund owned 44,770 shares of the company’s stock after buying an additional 8,377 shares during the quarter. Natixis Advisors LLC’s holdings in Ovintiv were worth $1,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of OVV. LPL Financial LLC lifted its stake in shares of Ovintiv by 17.8% in the 4th quarter. LPL Financial LLC now owns 89,492 shares of the company’s stock valued at $3,624,000 after purchasing an additional 13,554 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Ovintiv by 3.1% in the 4th quarter. Wells Fargo & Company MN now owns 88,986 shares of the company’s stock valued at $3,604,000 after purchasing an additional 2,639 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Ovintiv by 0.3% in the 4th quarter. Russell Investments Group Ltd. now owns 266,386 shares of the company’s stock valued at $10,788,000 after purchasing an additional 731 shares during the period. Federated Hermes Inc. lifted its stake in shares of Ovintiv by 11.5% in the 4th quarter. Federated Hermes Inc. now owns 164,796 shares of the company’s stock valued at $6,674,000 after purchasing an additional 16,945 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Ovintiv by 1.8% in the 4th quarter. Invesco Ltd. now owns 1,260,690 shares of the company’s stock valued at $51,058,000 after purchasing an additional 21,738 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Up 2.5%

Ovintiv stock opened at $39.86 on Friday. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 4.71 and a beta of 1.10. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $47.18. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $39.93 and a two-hundred day simple moving average of $39.35.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. Equities analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. Ovintiv’s payout ratio is currently 53.10%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays raised their target price on Ovintiv from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Wells Fargo & Company lowered their target price on Ovintiv from $46.00 to $41.00 and set an “equal weight” rating for the company in a research note on Monday, June 16th. Scotiabank raised their price objective on Ovintiv from $48.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Citigroup set a $54.00 price objective on Ovintiv and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Ovintiv in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.47.

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.