19,833 Shares in Ovintiv Inc. (NYSE:OVV) Purchased by Crestline Management LP

Crestline Management LP purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 19,833 shares of the company’s stock, valued at approximately $803,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC increased its position in Ovintiv by 71.3% during the 4th 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 period. Mizuho Bank Ltd. purchased a new position in Ovintiv during the 4th quarter valued at $40,000. Optiver Holding B.V. bought a new position in Ovintiv in the 4th quarter worth $40,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of 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 purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Up 2.3 %

Shares of Ovintiv stock opened at $36.13 on Friday. The company has a 50-day simple moving average of $37.03 and a two-hundred day simple moving average of $40.62. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $51.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $9.41 billion, a PE ratio of 4.79 and a beta of 1.14.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.22. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. On average, analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. Ovintiv’s dividend payout ratio (DPR) is presently 51.06%.

Analyst Ratings Changes

A number of research firms recently issued reports on OVV. Williams Trading set a $58.00 price target on shares of Ovintiv in a research note on Wednesday, March 5th. National Bankshares increased their target price on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their target price on Ovintiv from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, Scotiabank raised Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $55.76.

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.