SG Americas Securities LLC Acquires 105,591 Shares of Ovintiv Inc. $OVV

SG Americas Securities LLC increased its holdings in Ovintiv Inc. (NYSE:OVV) by 109.2% during the first quarter, HoldingsChannel reports. The fund owned 202,278 shares of the company’s stock after acquiring an additional 105,591 shares during the quarter. SG Americas Securities LLC’s holdings in Ovintiv were worth $12,007,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in OVV. Baron Wealth Management LLC bought a new position in shares of Ovintiv in the first quarter valued at approximately $309,000. Rockefeller Capital Management L.P. raised its position in Ovintiv by 203.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,352 shares of the company’s stock valued at $171,000 after buying an additional 2,917 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Ovintiv by 15.4% during the 4th quarter. Corient Private Wealth LLC now owns 42,363 shares of the company’s stock valued at $1,660,000 after acquiring an additional 5,669 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Ovintiv by 37.1% during the 4th quarter. Hsbc Holdings PLC now owns 242,042 shares of the company’s stock valued at $9,479,000 after acquiring an additional 65,445 shares in the last quarter. Finally, River Road Asset Management LLC boosted its holdings in Ovintiv by 0.3% during the 4th quarter. River Road Asset Management LLC now owns 295,720 shares of the company’s stock worth $11,589,000 after acquiring an additional 781 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 0.9%

Ovintiv stock opened at $53.08 on Friday. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $63.46. The firm has a 50 day moving average price of $56.99 and a 200-day moving average price of $50.71. The company has a market capitalization of $14.92 billion, a P/E ratio of 17.12 and a beta of 0.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.48.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Monday, May 11th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.15. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Ovintiv had a net margin of 8.51% and a return on equity of 13.14%. As a group, equities analysts predict that Ovintiv Inc. will post 8.07 EPS for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, June 15th. Ovintiv’s dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

Several brokerages have recently commented on OVV. Citigroup reiterated a “neutral” rating and issued a $62.00 target price (up from $52.00) on shares of Ovintiv in a report on Monday, March 30th. Truist Financial reduced their price objective on shares of Ovintiv from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Wells Fargo & Company raised shares of Ovintiv from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $80.00 in a research report on Monday. Royal Bank Of Canada set a $70.00 target price on Ovintiv and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, TD Cowen increased their price target on Ovintiv from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.47.

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.