Sanctuary Advisors LLC Purchases Shares of 6,446 Ovintiv Inc. (NYSE:OVV)

Sanctuary Advisors LLC acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,446 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. American National Bank bought a new stake in Ovintiv in the 1st quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in Ovintiv during the 2nd quarter worth about $39,000. Geneos Wealth Management Inc. boosted its stake in shares of Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock worth $45,000 after buying an additional 300 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Ovintiv in the 2nd quarter valued at about $69,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Ovintiv in the first quarter valued at about $74,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OVV shares. Citigroup reduced their price target on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Wolfe Research started coverage on shares of Ovintiv in a research note on Thursday, July 18th. They issued an “outperform” rating and a $65.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Mizuho lowered their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group cut their target price on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv Price Performance

Ovintiv stock opened at $40.78 on Friday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a fifty day moving average of $41.42 and a 200-day moving average of $46.25. The stock has a market capitalization of $10.75 billion, a P/E ratio of 5.75, a price-to-earnings-growth ratio of 8.23 and a beta of 2.61.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The firm had revenue of $2.29 billion for 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%. On average, sell-side analysts expect that Ovintiv Inc. will post 4.83 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.30 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.94%. Ovintiv’s dividend payout ratio is 16.93%.

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.