denkapparat Operations GmbH Buys 5,314 Shares of Ovintiv Inc. $OVV

denkapparat Operations GmbH raised its position in shares of Ovintiv Inc. (NYSE:OVV) by 38.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,236 shares of the company’s stock after acquiring an additional 5,314 shares during the quarter. denkapparat Operations GmbH’s holdings in Ovintiv were worth $732,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ovintiv by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,423,206 shares of the company’s stock valued at $1,302,113,000 after purchasing an additional 959,711 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ovintiv by 383.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock valued at $396,267,000 after buying an additional 7,344,796 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Ovintiv by 3.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 8,437,152 shares of the company’s stock valued at $361,110,000 after buying an additional 284,656 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ovintiv by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,708,987 shares of the company’s stock valued at $244,338,000 after buying an additional 146,749 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Ovintiv by 69.7% in the 1st quarter. AQR Capital Management LLC now owns 5,572,732 shares of the company’s stock worth $238,513,000 after buying an additional 2,288,989 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research report on Wednesday, November 5th. Barclays lowered their price objective on Ovintiv from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. National Bankshares cut their target price on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Mizuho dropped their price target on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.71.

Ovintiv Stock Performance

NYSE OVV opened at $39.41 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $47.18. The business has a 50-day moving average price of $39.45 and a 200-day moving average price of $39.14. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00.

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

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ovintiv’s dividend payout ratio is currently 131.87%.

Ovintiv Company 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.