Cetera Investment Advisers Buys 353 Shares of Ovintiv Inc. (NYSE:OVV)

Cetera Investment Advisers raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,466 shares of the company’s stock after acquiring an additional 353 shares during the quarter. Cetera Investment Advisers’ holdings in Ovintiv were worth $1,756,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on OVV shares. Mizuho lowered their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Evercore ISI lowered their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Truist Financial lowered their price objective on Ovintiv from $62.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, September 30th. UBS Group lowered their price objective on Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Wolfe Research started coverage on Ovintiv in a research report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Ovintiv Trading Down 1.4 %

NYSE:OVV opened at $42.54 on Tuesday. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $11.36 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 8.02 and a beta of 2.61. The business’s 50-day simple moving average is $41.47 and its 200-day simple moving average is $46.47.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.53 billion. Sell-side analysts expect that Ovintiv Inc. will post 4.9 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was 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.