Vinva Investment Management Ltd Cuts Stock Holdings in Ovintiv Inc. $OVV

Vinva Investment Management Ltd lessened its position in Ovintiv Inc. (NYSE:OVV) by 94.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,654 shares of the company’s stock after selling 246,891 shares during the quarter. Vinva Investment Management Ltd’s holdings in Ovintiv were worth $596,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OVV. Charles Schwab Investment Management Inc. increased its position in shares of Ovintiv by 383.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock worth $396,267,000 after purchasing an additional 7,344,796 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Ovintiv by 69.7% during the first quarter. AQR Capital Management LLC now owns 5,572,732 shares of the company’s stock worth $238,513,000 after buying an additional 2,288,989 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Ovintiv during the first quarter worth $56,865,000. Nuveen LLC acquired a new stake in shares of Ovintiv in the first quarter valued at about $46,603,000. Finally, Amundi lifted its stake in shares of Ovintiv by 86.3% in the first quarter. Amundi now owns 2,231,116 shares of the company’s stock worth $87,125,000 after buying an additional 1,033,309 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Up 1.0%

Shares of NYSE OVV opened at $40.87 on Friday. The company has a 50 day simple moving average of $38.80 and a 200-day simple moving average of $39.46. The company has a market capitalization of $10.35 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $46.35.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. On average, equities research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 15th. Ovintiv’s dividend payout ratio is 131.87%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Ovintiv from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Citigroup dropped their price target on Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a report on Monday, November 24th. William Blair began coverage on Ovintiv in a research note on Wednesday. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Mizuho dropped their target price on Ovintiv from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.83.

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.