Siemens Fonds Invest GmbH Makes New $1.35 Million Investment in Ovintiv Inc. (NYSE:OVV)

Siemens Fonds Invest GmbH purchased a new position in shares of Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 33,290 shares of the company’s stock, valued at approximately $1,348,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock worth $1,193,272,000 after buying an additional 451,947 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ovintiv by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company’s stock worth $225,265,000 after acquiring an additional 683,700 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Ovintiv by 1,732.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock worth $137,134,000 after acquiring an additional 3,203,087 shares during the period. AQR Capital Management LLC increased its stake in Ovintiv by 69.7% in the 4th quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company’s stock valued at $132,992,000 after purchasing an additional 1,348,221 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Ovintiv by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock worth $118,530,000 after purchasing an additional 8,168 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

NYSE:OVV opened at $37.33 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $9.70 billion, a PE ratio of 4.95 and a beta of 1.14. The firm has a 50 day simple moving average of $37.02 and a 200-day simple moving average of $40.57. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $51.72.

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

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, June 13th. Ovintiv’s dividend payout ratio is currently 51.06%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho lowered their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays lowered their price objective on shares of Ovintiv from $59.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, National Bankshares upped their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $55.65.

About Ovintiv

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.