Quest Partners LLC Increases Holdings in Ovintiv Inc. (NYSE:OVV)

Quest Partners LLC boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 480.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,666 shares of the company’s stock after purchasing an additional 6,346 shares during the quarter. Quest Partners LLC’s holdings in Ovintiv were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Ovintiv by 1,202.0% in the fourth quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock valued at $610,000 after acquiring an additional 12,813 shares in the last quarter. Jump Financial LLC purchased a new stake in Ovintiv during the fourth quarter worth $478,000. Dimensional Fund Advisors LP lifted its holdings in Ovintiv by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,639,579 shares of the company’s stock worth $115,937,000 after buying an additional 168,320 shares during the period. Westpac Banking Corp boosted its position in Ovintiv by 219.5% during the 4th quarter. Westpac Banking Corp now owns 2,933 shares of the company’s stock valued at $129,000 after acquiring an additional 2,015 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Ovintiv by 18.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 117,865 shares of the company’s stock valued at $5,252,000 after acquiring an additional 18,021 shares during the period. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Scotiabank raised their price objective on Ovintiv from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. Truist Financial boosted their price objective on shares of Ovintiv from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Ovintiv from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Ovintiv in a report on Friday, June 14th. Finally, Royal Bank of Canada decreased their price objective on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.17.

Ovintiv Trading Up 0.1 %

Ovintiv stock opened at $38.81 on Friday. The stock has a 50-day moving average price of $43.74 and a 200 day moving average price of $47.89. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 5.42, a price-to-earnings-growth ratio of 6.23 and a beta of 2.62. Ovintiv Inc. has a 52 week low of $37.81 and a 52 week high of $55.95. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.47.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. Sell-side analysts anticipate that Ovintiv Inc. will post 5.81 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, September 13th. Ovintiv’s dividend payout ratio is currently 16.76%.

About Ovintiv

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.