Olympiad Research LP Increases Stock Position in Ovintiv Inc. $OVV

Olympiad Research LP grew its holdings in Ovintiv Inc. (NYSE:OVV) by 19.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,629 shares of the company’s stock after purchasing an additional 1,571 shares during the quarter. Olympiad Research LP’s holdings in Ovintiv were worth $366,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc lifted its stake in Ovintiv by 316.7% in the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after buying an additional 643 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of Ovintiv in the second quarter valued at $35,000. Harbour Investments Inc. boosted its stake in shares of Ovintiv by 143.8% during the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock valued at $39,000 after acquiring an additional 542 shares during the last quarter. Gen Wealth Partners Inc increased its position in Ovintiv by 91.8% during the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock worth $43,000 after purchasing an additional 484 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in Ovintiv in the 1st quarter valued at about $48,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Mizuho decreased their price objective on Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a research report on Tuesday. Finally, UBS Group increased their target price on Ovintiv from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.71.

Ovintiv Trading Up 1.5%

OVV stock opened at $38.81 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.89 and a beta of 1.00. The business has a fifty day simple moving average of $39.31 and a 200-day simple moving average of $39.13. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $47.18.

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

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.30 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 3.1%. Ovintiv’s dividend payout ratio (DPR) is presently 131.87%.

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.