Ovintiv Inc. (NYSE:OVV) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in Ovintiv Inc. (NYSE:OVV) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 976,001 shares of the company’s stock after acquiring an additional 57,182 shares during the period. Hsbc Holdings PLC owned approximately 0.37% of Ovintiv worth $45,778,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in shares of Ovintiv by 20.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,859 shares of the company’s stock worth $960,000 after acquiring an additional 3,668 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Ovintiv by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,374 shares of the company’s stock worth $631,000 after purchasing an additional 1,416 shares during the last quarter. UBS Group AG raised its stake in Ovintiv by 4.3% during the fourth quarter. UBS Group AG now owns 357,561 shares of the company’s stock worth $15,704,000 after purchasing an additional 14,879 shares during the period. Coldstream Capital Management Inc. acquired a new position in Ovintiv in the 4th quarter valued at about $208,000. Finally, Trexquant Investment LP purchased a new stake in shares of Ovintiv in the 4th quarter valued at approximately $305,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $60.00 price target on shares of Ovintiv in a research report on Wednesday, July 10th. Wells Fargo & Company decreased their price target on Ovintiv from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Truist Financial upped their target price on shares of Ovintiv from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America reiterated a “neutral” rating and set a $55.00 price target on shares of Ovintiv in a research report on Friday, June 14th. Five research 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 a consensus rating of “Moderate Buy” and a consensus price target of $59.83.

Ovintiv Trading Up 0.3 %

NYSE:OVV opened at $40.50 on Friday. Ovintiv Inc. has a 12-month low of $37.81 and a 12-month high of $55.95. The firm has a market cap of $10.68 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 6.50 and a beta of 2.62. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $43.00 and a 200 day moving average price of $47.60.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Sell-side analysts anticipate that Ovintiv Inc. will post 5.63 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, September 13th. Ovintiv’s dividend payout ratio (DPR) is presently 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.