MBB Public Markets I LLC Has $807,000 Stock Holdings in Ovintiv Inc. (NYSE:OVV)

MBB Public Markets I LLC raised its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 341.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,212 shares of the company’s stock after acquiring an additional 13,315 shares during the quarter. MBB Public Markets I LLC’s holdings in Ovintiv were worth $807,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OVV. TD Asset Management Inc lifted its holdings in Ovintiv by 176.3% during the 4th quarter. TD Asset Management Inc now owns 46,149 shares of the company’s stock valued at $2,027,000 after purchasing an additional 29,449 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Ovintiv by 25.0% in the second quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock worth $25,090,000 after acquiring an additional 106,900 shares during the period. FORA Capital LLC acquired a new position in Ovintiv in the first quarter valued at approximately $4,244,000. Jacobs Levy Equity Management Inc. acquired a new position in Ovintiv in the first quarter valued at approximately $1,149,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Ovintiv in the second quarter valued at approximately $1,441,000. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OVV shares. Evercore ISI lowered their target price on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday. UBS Group dropped their price objective on Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley lowered their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Truist Financial reduced their price target on Ovintiv from $62.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday. Finally, TD Cowen lifted their price objective on Ovintiv from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.17.

Ovintiv Stock Up 5.3 %

Ovintiv stock opened at $40.34 on Wednesday. The firm has a market capitalization of $10.63 billion, a P/E ratio of 5.63, a P/E/G ratio of 7.23 and a beta of 2.62. The stock’s fifty day simple moving average is $41.82 and its 200-day simple moving average is $47.02. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. As a group, equities analysts expect that Ovintiv Inc. will post 5.26 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.97%. Ovintiv’s dividend payout ratio (DPR) is 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.