Neuberger Berman Group LLC Buys 1,616 Shares of Ovintiv Inc. $OVV

Neuberger Berman Group LLC boosted its stake in Ovintiv Inc. (NYSE:OVV) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,919 shares of the company’s stock after purchasing an additional 1,616 shares during the quarter. Neuberger Berman Group LLC’s holdings in Ovintiv were worth $948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in shares of Ovintiv during the 2nd quarter worth about $436,000. Scotia Capital Inc. increased its position in Ovintiv by 3.6% in the 2nd quarter. Scotia Capital Inc. now owns 131,644 shares of the company’s stock valued at $5,004,000 after buying an additional 4,557 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Ovintiv by 40.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 25,708 shares of the company’s stock worth $978,000 after buying an additional 7,396 shares during the period. Employees Retirement System of Texas bought a new position in Ovintiv in the second quarter worth approximately $81,000. Finally, Inceptionr LLC bought a new position in Ovintiv in the second quarter worth approximately $1,377,000. 83.81% of the stock is owned by institutional investors.

Ovintiv Trading Up 1.0%

Shares of Ovintiv stock opened at $40.87 on Friday. The company has a market capitalization of $10.35 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00. The stock has a fifty day simple moving average of $38.80 and a 200 day simple moving average of $39.46. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $46.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.86 billion. On average, sell-side analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 2.9%. Ovintiv’s payout ratio is 131.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. National Bankshares reduced their price target on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Citigroup decreased their price target on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. JPMorgan Chase & Co. dropped their price objective on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Finally, William Blair assumed coverage on shares of Ovintiv in a report on Wednesday. They set an “outperform” rating and a $50.00 price objective for the company. One equities research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.83.

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.