Janney Montgomery Scott LLC Acquires 3,212 Shares of Ovintiv Inc. (NYSE:OVV)

Janney Montgomery Scott LLC boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,171 shares of the company’s stock after buying an additional 3,212 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ovintiv were worth $1,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OVV. Pacer Advisors Inc. lifted its stake in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after buying an additional 6,486,159 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Ovintiv by 7,422.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after acquiring an additional 1,340,947 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock worth $44,991,000 after acquiring an additional 350,909 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of Ovintiv by 2,105.0% during the third quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock worth $12,763,000 after purchasing an additional 318,041 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $43.72 on Wednesday. The company has a 50 day moving average price of $42.37 and a 200 day moving average price of $42.18. The firm has a market capitalization of $11.38 billion, a P/E ratio of 5.80 and a beta of 2.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.76. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. During the same period in the prior year, the company earned $1.74 earnings per share. Sell-side analysts expect that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. Ovintiv’s dividend payout ratio (DPR) is currently 15.92%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OVV. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company reduced their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. UBS Group dropped their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Scotiabank lifted their price objective on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Finally, Barclays increased their target price on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.88.

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.