Ovintiv Inc. (NYSE:OVV) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 480.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,666 shares of the company’s stock after buying an additional 6,346 shares during the period. Quest Partners LLC’s holdings in Ovintiv were worth $359,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. American National Bank purchased a new stake in shares of Ovintiv in the first quarter valued at approximately $27,000. Innealta Capital LLC purchased a new position in Ovintiv in the 2nd quarter worth approximately $39,000. Geneos Wealth Management Inc. boosted its holdings in shares of 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 last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Ovintiv in the fourth quarter valued at approximately $68,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ovintiv in the second quarter valued at approximately $69,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Price Performance

OVV stock opened at $38.81 on Friday. The business’s fifty day moving average price is $43.74 and its 200 day moving average price is $47.89. Ovintiv Inc. has a 12-month low of $37.81 and a 12-month high of $55.95. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.36 billion, a PE ratio of 5.42, a P/E/G ratio of 6.23 and a beta of 2.62.

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

Ovintiv Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on OVV. UBS Group dropped their target price on Ovintiv from $66.00 to $61.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wolfe Research assumed coverage on shares of Ovintiv in a research report on Thursday, July 18th. They set an “outperform” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank of Canada cut their price target on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Finally, Scotiabank upped their price objective on Ovintiv from $58.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

About Ovintiv

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.