Ovintiv Inc. (NYSE:OVV) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 5,604.0% in the first quarter, Holdings Channel.com reports. The firm owned 173,058 shares of the company’s stock after buying an additional 170,024 shares during the period. SG Americas Securities LLC’s holdings in Ovintiv were worth $7,407,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. abrdn plc acquired a new position in shares of Ovintiv in the 4th quarter worth approximately $346,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Ovintiv by 11.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,404 shares of the company’s stock valued at $691,000 after purchasing an additional 1,826 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Ovintiv during the 4th quarter valued at approximately $108,000. Savant Capital LLC acquired a new position in Ovintiv during the 4th quarter valued at approximately $1,727,000. Finally, Summit Trail Advisors LLC acquired a new position in Ovintiv during the 4th quarter valued at approximately $205,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the subject of a number of analyst reports. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Wells Fargo & Company lifted 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. Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. Scotiabank raised Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price on shares of Ovintiv in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $55.00.

Ovintiv Price Performance

Shares of Ovintiv stock opened at $40.70 on Thursday. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $49.57. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.57 billion, a PE ratio of 5.40 and a beta of 1.09. The company’s 50-day moving average price is $35.46 and its two-hundred day moving average price is $39.88.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, May 6th. The company reported $1.42 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 for the quarter, compared to the consensus estimate of $2.23 billion. As a group, sell-side analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.30 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 2.95%. Ovintiv’s dividend payout ratio (DPR) is 51.06%.

Ovintiv Profile

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.