Union Bancaire Privee UBP SA acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV – Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 53,181 shares of the company’s stock, valued at approximately $3,190,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Steph & Co. purchased a new position in Ovintiv during the 1st quarter valued at about $29,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Ovintiv during the third quarter valued at about $36,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Ovintiv in the fourth quarter worth about $38,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ovintiv in the fourth quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Ovintiv by 27.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock valued at $52,000 after acquiring an additional 287 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Ovintiv Trading Down 0.9%
Shares of OVV opened at $53.08 on Friday. Ovintiv Inc. has a 1-year low of $35.47 and a 1-year high of $63.46. The company has a market capitalization of $14.92 billion, a P/E ratio of 17.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50 day simple moving average is $56.99 and its 200 day simple moving average is $50.71.
Ovintiv Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.20 annualized dividend and a yield of 2.3%. Ovintiv’s payout ratio is 38.71%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Ovintiv from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Bank of America increased their target price on shares of Ovintiv from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Ovintiv from a “hold” rating to a “buy” rating in a research report on Monday, June 22nd. Royal Bank Of Canada set a $70.00 price target on shares of Ovintiv and gave the stock an “outperform” rating in a report on Monday, June 22nd. Finally, Scotiabank raised shares of Ovintiv from an “outperform” rating to a “buy” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus target price of $64.47.
View Our Latest Report on Ovintiv
About Ovintiv
Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.
The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.
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