Ovintiv Inc. $OVV Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its position in Ovintiv Inc. (NYSE:OVV) by 18.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 862,451 shares of the company’s stock after selling 197,479 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ovintiv were worth $32,816,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC acquired a new position in Ovintiv in the 2nd quarter valued at $35,000. HB Wealth Management LLC grew its stake in shares of Ovintiv by 17.8% during the 2nd quarter. HB Wealth Management LLC now owns 6,643 shares of the company’s stock worth $253,000 after purchasing an additional 1,005 shares during the period. Ruffer LLP acquired a new position in shares of Ovintiv during the 2nd quarter worth $9,744,000. Public Employees Retirement System of Ohio grew its stake in shares of Ovintiv by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,630 shares of the company’s stock worth $3,296,000 after purchasing an additional 666 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Ovintiv by 46.2% during the 2nd quarter. GAMMA Investing LLC now owns 8,118 shares of the company’s stock worth $309,000 after purchasing an additional 2,567 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OVV. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a research note on Saturday, September 27th. Wells Fargo & Company lowered their price target on shares of Ovintiv from $46.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, June 16th. Citigroup set a $54.00 price target on shares of Ovintiv and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Scotiabank increased their price objective on shares of Ovintiv from $48.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. Finally, TD Cowen raised shares of Ovintiv to a “strong-buy” rating in a research note on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.73.

Ovintiv Price Performance

Shares of NYSE OVV opened at $40.15 on Friday. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 5.11 and a beta of 0.97. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $47.18. The company’s 50-day moving average price is $40.99 and its 200 day moving average price is $38.98. 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 issued its quarterly earnings data on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.92 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. As a group, research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $0.30 dividend. 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 dividend payout ratio is 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.