7,500 Shares in Ovintiv Inc. (NYSE:OVV) Bought by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Ovintiv Inc. (NYSE:OVV) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 7,500 shares of the company’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Colonial Trust Co SC acquired a new position in Ovintiv during the 4th quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its holdings in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after purchasing an additional 335 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Ovintiv during the 4th quarter worth $40,000. Finally, Mizuho Bank Ltd. purchased a new position in Ovintiv in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV opened at $38.11 on Tuesday. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $51.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $9.92 billion, a PE ratio of 5.05 and a beta of 1.14. The company’s 50 day moving average price is $37.02 and its 200 day moving average price is $40.61.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.22. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.23 billion. Research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.15%. Ovintiv’s dividend payout ratio is currently 51.06%.

Analyst Ratings Changes

Several research analysts recently commented on OVV shares. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Williams Trading set a $58.00 price target on shares of Ovintiv in a research note on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Ovintiv from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Barclays dropped their target price on shares of Ovintiv from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price target on shares of Ovintiv in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $55.76.

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.