Ovintiv Inc. (NYSE:OVV) Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its stake in Ovintiv Inc. (NYSE:OVV) by 141.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,580 shares of the company’s stock after acquiring an additional 129,891 shares during the period. Gotham Asset Management LLC’s holdings in Ovintiv were worth $8,974,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on OVV. Barclays lowered their price target on Ovintiv from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Williams Trading set a $58.00 price target on Ovintiv in a report on Wednesday, March 5th. National Bankshares upped their price target on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Truist Financial upped their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Scotiabank upgraded Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $55.76.

Ovintiv Trading Up 5.4%

Shares of Ovintiv stock opened at $38.11 on Tuesday. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $51.72. The firm has a market cap of $9.92 billion, a PE ratio of 5.05 and a beta of 1.14. The business’s fifty day moving average is $37.02 and its two-hundred day moving average is $40.61. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping 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 company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, June 13th. Ovintiv’s dividend payout ratio is presently 51.06%.

Ovintiv Company 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.