Daiwa Securities Group Inc. Has $867,000 Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Daiwa Securities Group Inc. raised its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,500 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ovintiv were worth $867,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its holdings in Ovintiv by 3.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,447,248 shares of the company’s stock valued at $63,563,000 after purchasing an additional 44,241 shares during the last quarter. TD Asset Management Inc increased its position in Ovintiv by 176.3% during the 4th quarter. TD Asset Management Inc now owns 46,149 shares of the company’s stock worth $2,027,000 after buying an additional 29,449 shares during the period. Wedge Capital Management L L P NC increased its position in Ovintiv by 25.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock worth $25,090,000 after buying an additional 106,900 shares during the period. International Assets Investment Management LLC increased its position in Ovintiv by 1,202.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock worth $610,000 after buying an additional 12,813 shares during the period. Finally, FORA Capital LLC bought a new position in Ovintiv during the 1st quarter worth $4,244,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV stock opened at $38.81 on Monday. The business’s 50-day moving average price is $43.74 and its 200-day moving average price is $47.91. Ovintiv Inc. has a 12 month low of $37.81 and a 12 month high of $55.95. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 6.23 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.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.53 billion. Equities research analysts forecast that Ovintiv Inc. will post 5.81 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s dividend payout ratio is currently 16.76%.

Wall Street Analyst Weigh In

OVV has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and set a $55.00 price objective on shares of Ovintiv in a research report on Friday, June 14th. Truist Financial raised their price target on Ovintiv from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Cowen raised their price target on Ovintiv from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, 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 report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.17.

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.