Ovintiv Inc. (NYSE:OVV) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,493 shares of the company’s stock after selling 2,403 shares during the period. Thrivent Financial for Lutherans owned about 0.05% of Ovintiv worth $6,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OVV. American National Bank purchased a new stake in Ovintiv in the first quarter valued at approximately $27,000. Innealta Capital LLC purchased a new stake in Ovintiv in the 2nd quarter valued at $39,000. Geneos Wealth Management Inc. boosted its stake in Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock worth $45,000 after purchasing an additional 300 shares during the period. Creekmur Asset Management LLC acquired a new position in Ovintiv in the fourth quarter valued at $68,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ovintiv in the second quarter valued at about $69,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Stock Performance

Shares of OVV stock opened at $37.00 on Friday. The stock has a fifty day moving average price of $42.50 and a 200 day moving average price of $47.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market cap of $9.75 billion, a PE ratio of 5.17, a P/E/G ratio of 7.32 and a beta of 2.62. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.53 billion. Sell-side analysts forecast that Ovintiv Inc. will post 5.26 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.24%. Ovintiv’s dividend payout ratio (DPR) is 16.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OVV shares. Morgan Stanley dropped their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada cut their price target on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered their price objective on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Scotiabank upped their price objective on shares of Ovintiv from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Ovintiv in a report on Wednesday, July 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 company has an average rating of “Moderate Buy” and a consensus target price of $59.83.

Ovintiv Company 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.