Bokf Na Has $1.19 Million Position in Ovintiv Inc. (NYSE:OVV)

Bokf Na raised its holdings in Ovintiv Inc. (NYSE:OVV) by 7.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,225 shares of the company’s stock after acquiring an additional 1,878 shares during the quarter. Bokf Na’s holdings in Ovintiv were worth $1,187,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Mizuho Bank Ltd. bought a new position in shares of Ovintiv in the fourth quarter valued at approximately $40,000. Optiver Holding B.V. bought a new stake in shares of Ovintiv during the 4th quarter worth $40,000. Finally, Cullen Frost Bankers Inc. raised its holdings in Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OVV shares. Wells Fargo & Company raised their price target on Ovintiv from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Truist Financial lifted their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. National Bankshares raised their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Barclays decreased their price target on shares of Ovintiv from $59.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $55.76.

Ovintiv Stock Performance

Shares of NYSE:OVV opened at $35.36 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The business’s fifty day moving average price is $37.08 and its two-hundred day moving average price is $40.65. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $51.72. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 4.69 and a beta of 1.14.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.22. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.23 billion. As a group, analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv’s dividend payout ratio (DPR) is currently 51.06%.

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.