NorthRock Partners LLC Invests $208,000 in Ovintiv Inc. $OVV

NorthRock Partners LLC acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,455 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in Ovintiv by 316.7% in the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after purchasing an additional 643 shares during the last quarter. Dogwood Wealth Management LLC bought a new stake in Ovintiv in the second quarter valued at about $35,000. Harbour Investments Inc. increased its holdings in Ovintiv by 143.8% in the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock valued at $39,000 after purchasing an additional 542 shares during the last quarter. Gen Wealth Partners Inc increased its holdings in Ovintiv by 91.8% in the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock valued at $43,000 after purchasing an additional 484 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in Ovintiv in the first quarter valued at about $48,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 1.4%

NYSE:OVV opened at $35.94 on Friday. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.18. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 5.36 and a beta of 0.97. The stock has a 50-day moving average price of $40.46 and a two-hundred day moving average price of $38.64.

Ovintiv (NYSE:OVV) last posted its earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (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, equities analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, September 15th. Ovintiv’s dividend payout ratio is currently 53.10%.

Analyst Ratings Changes

A number of equities research analysts recently commented on OVV shares. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a report on Monday, July 7th. UBS Group upped their price objective on Ovintiv from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Zacks Research downgraded Ovintiv from a “hold” rating to a “strong sell” rating in a report on Friday, September 26th. The Goldman Sachs Group raised Ovintiv from a “neutral” rating to a “buy” rating and boosted their target price for the company from $47.00 to $51.00 in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company decreased their target price on Ovintiv from $46.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus price target of $51.12.

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.