Sanctuary Advisors LLC Purchases Shares of 6,446 Ovintiv Inc. (NYSE:OVV)

Sanctuary Advisors LLC acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, Holdings Channel reports. The firm acquired 6,446 shares of the company’s stock, valued at approximately $302,000.

Several other large investors also recently made changes to their positions in OVV. Vanguard Group Inc. grew its stake in shares of Ovintiv by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after acquiring an additional 1,024,931 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ovintiv by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock valued at $180,194,000 after purchasing an additional 142,296 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Ovintiv by 114.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after buying an additional 1,618,556 shares during the period. Principal Financial Group Inc. grew its stake in Ovintiv by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,005,797 shares of the company’s stock valued at $52,201,000 after buying an additional 17,206 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Ovintiv by 6.2% during the 2nd quarter. Hsbc Holdings PLC now owns 976,001 shares of the company’s stock valued at $45,778,000 after purchasing an additional 57,182 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Down 1.3 %

OVV stock opened at $40.78 on Friday. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 8.23 and a beta of 2.61. 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 business’s 50-day moving average is $41.42 and its two-hundred day moving average is $46.25. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. As a group, analysts forecast that Ovintiv Inc. will post 4.83 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a 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%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OVV shares. Wolfe Research began coverage on shares of Ovintiv in a research note on Thursday, July 18th. They issued an “outperform” rating and a $65.00 target price on the stock. Mizuho reduced their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. UBS Group lowered their price target on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company reduced their price objective on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.