Ovintiv Inc. $OVV Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,006 shares of the company’s stock after purchasing an additional 901 shares during the quarter. QRG Capital Management Inc.’s holdings in Ovintiv were worth $2,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Atlas Capital Advisors Inc. increased its stake in Ovintiv by 1,681.1% in the first quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock valued at $594,000 after purchasing an additional 13,096 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Ovintiv by 54.3% during the first quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock worth $41,211,000 after buying an additional 338,866 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Ovintiv by 204.2% during the first quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock worth $24,988,000 after buying an additional 391,923 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ovintiv by 383.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock worth $396,267,000 after acquiring an additional 7,344,796 shares during the period. Finally, Lifestyle Asset Management Inc. lifted its position in Ovintiv by 46.8% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company’s stock worth $1,072,000 after acquiring an additional 8,987 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on OVV shares. Royal Bank Of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Ovintiv in a research note on Friday, September 26th. UBS Group boosted their price objective on shares of Ovintiv from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley set a $48.00 target price on shares of Ovintiv and gave the company an “equal weight” rating in a report on Monday, August 18th. JPMorgan Chase & Co. lowered their target price on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Ovintiv from $46.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Ovintiv Stock Down 0.9%

Shares of NYSE OVV opened at $39.72 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $47.18. The firm has a 50-day moving average price of $40.86 and a 200 day moving average price of $38.93. The stock has a market capitalization of $10.21 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 5.20 and a beta of 0.97.

Ovintiv (NYSE:OVV) last issued its 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). Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Equities research analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Ovintiv’s payout ratio is presently 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.