SG Americas Securities LLC Sells 149,648 Shares of Ovintiv Inc. $OVV

SG Americas Securities LLC decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 86.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,410 shares of the company’s stock after selling 149,648 shares during the quarter. SG Americas Securities LLC’s holdings in Ovintiv were worth $891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OVV. Charles Schwab Investment Management Inc. grew its stake in Ovintiv by 383.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock worth $396,267,000 after buying an additional 7,344,796 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Ovintiv by 69.7% during the 1st quarter. AQR Capital Management LLC now owns 5,572,732 shares of the company’s stock valued at $238,513,000 after buying an additional 2,288,989 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Ovintiv during the 1st quarter worth $56,865,000. Nuveen LLC purchased a new position in Ovintiv in the first quarter worth $46,603,000. Finally, Amundi grew its position in Ovintiv by 86.3% in the first quarter. Amundi now owns 2,231,116 shares of the company’s stock worth $87,125,000 after acquiring an additional 1,033,309 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OVV has been the topic of a number of research reports. National Bankshares lowered their price target on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. UBS Group raised their price objective on Ovintiv from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Ovintiv in a research report on Monday, November 17th. Roth Capital assumed coverage on shares of Ovintiv in a research note on Monday, October 13th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average target price of $51.94.

Ovintiv Price Performance

OVV opened at $39.00 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $38.96 and its 200 day simple moving average is $39.38. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.89 and a beta of 1.00. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.04.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%.The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.86 billion. As a group, analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 3.1%. Ovintiv’s dividend payout ratio is presently 131.87%.

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.