Cwm LLC Acquires 769 Shares of Ovintiv Inc. (NYSE:OVV)

Cwm LLC lifted its stake in Ovintiv Inc. (NYSE:OVV) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,531 shares of the company’s stock after buying an additional 769 shares during the period. Cwm LLC’s holdings in Ovintiv were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Ovintiv by 89.1% during the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock valued at $1,917,000 after acquiring an additional 19,272 shares during the period. Wedge Capital Management L L P NC increased its holdings in Ovintiv by 25.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock valued at $25,090,000 after buying an additional 106,900 shares during the period. FORA Capital LLC acquired a new position in shares of Ovintiv in the 1st quarter valued at approximately $4,244,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Ovintiv during the 1st quarter worth approximately $1,149,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of Ovintiv during the 2nd quarter worth approximately $1,441,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV stock opened at $40.79 on Friday. The stock has a market capitalization of $10.75 billion, a PE ratio of 5.75, a PEG ratio of 8.23 and a beta of 2.61. The business’s 50 day simple moving average is $41.42 and its 200 day simple moving average is $46.20. 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 Inc. has a one year low of $36.90 and a one year high of $55.95.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data 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 net margin of 18.56% and a return on equity of 18.28%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.53 billion. As a group, research analysts forecast that Ovintiv Inc. will post 4.83 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, September 13th. Ovintiv’s dividend payout ratio (DPR) is presently 16.93%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OVV shares. Citigroup cut their target price on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Morgan Stanley decreased their target price 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. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Evercore ISI lowered their price objective on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

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.