Ovintiv Inc. (NYSE:OVV) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in Ovintiv Inc. (NYSE:OVV) by 17.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,090 shares of the company’s stock after buying an additional 3,027 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ovintiv were worth $942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OVV. Balyasny Asset Management L.P. lifted its stake in shares of Ovintiv by 1,560.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock worth $63,738,000 after acquiring an additional 1,363,865 shares during the period. Vanguard Group Inc. raised its holdings in Ovintiv by 3.8% during the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after purchasing an additional 1,024,931 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Ovintiv by 2,602.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock worth $31,410,000 after purchasing an additional 688,690 shares in the last quarter. SIR Capital Management L.P. acquired a new stake in Ovintiv in the second quarter worth approximately $22,732,000. Finally, SG Americas Securities LLC boosted its stake in Ovintiv by 6,830.6% during the 1st quarter. SG Americas Securities LLC now owns 411,054 shares of the company’s stock valued at $21,334,000 after purchasing an additional 405,123 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OVV. TD Cowen boosted their price objective on Ovintiv from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada dropped their price target on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Truist Financial raised their price objective 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. Morgan Stanley cut their target price on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Wells Fargo & Company decreased their price target on shares of 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 analysts have rated the stock with a hold rating and twelve have assigned a 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 $59.83.

Ovintiv Stock Up 1.1 %

Shares of Ovintiv stock opened at $40.38 on Friday. The stock has a 50-day simple moving average of $43.16 and a 200-day simple moving average of $47.65. Ovintiv Inc. has a 52-week low of $37.81 and a 52-week high of $55.95. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 5.64, a P/E/G ratio of 6.24 and a beta of 2.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.44 and a quick ratio of 0.44.

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

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, September 13th. Ovintiv’s payout ratio is 16.76%.

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.