Quantinno Capital Management LP Has $15.38 Million Position in Ovintiv Inc. $OVV

Quantinno Capital Management LP raised its position in Ovintiv Inc. (NYSE:OVV) by 222.1% in the 1st quarter, Holdings Channel reports. The firm owned 259,040 shares of the company’s stock after buying an additional 178,621 shares during the period. Quantinno Capital Management LP’s holdings in Ovintiv were worth $15,377,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Ovintiv by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,059,334 shares of the company’s stock worth $433,418,000 after purchasing an additional 1,669,469 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ovintiv by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,890,315 shares of the company’s stock valued at $387,601,000 after buying an additional 203,256 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Ovintiv by 16.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,880,705 shares of the company’s stock valued at $467,874,000 after buying an additional 1,137,162 shares in the last quarter. Millennium Management LLC raised its stake in Ovintiv by 116.3% during the 4th quarter. Millennium Management LLC now owns 5,692,806 shares of the company’s stock worth $223,101,000 after buying an additional 3,060,691 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Ovintiv by 13.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,462,109 shares of the company’s stock worth $214,060,000 after acquiring an additional 650,000 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on OVV. Texas Capital upgraded Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Wells Fargo & Company upgraded Ovintiv from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $57.00 to $80.00 in a report on Monday, June 22nd. Barclays boosted their price objective on Ovintiv from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley dropped their target price on shares of Ovintiv from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Finally, National Bank Financial lifted their price target on shares of Ovintiv from $82.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.89.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $62.40 on Monday. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of 17.63 and a beta of 0.53. The stock’s 50-day moving average is $56.50 and its 200-day moving average is $54.00. Ovintiv Inc. has a one year low of $35.47 and a one year high of $64.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.37 billion. Equities analysts predict that Ovintiv Inc. will post 6.87 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Ovintiv’s dividend payout ratio (DPR) is currently 33.90%.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.