U.S. Capital Wealth Advisors LLC Sells 39,370 Shares of Ovintiv Inc. $OVV

U.S. Capital Wealth Advisors LLC reduced its position in Ovintiv Inc. (NYSE:OVV) by 76.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,946 shares of the company’s stock after selling 39,370 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Ovintiv were worth $455,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ovintiv by 1,393.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,155 shares of the company’s stock valued at $614,000 after buying an additional 14,140 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ovintiv during the 4th quarter valued at $4,949,000. Siemens Fonds Invest GmbH purchased a new position in Ovintiv during the 4th quarter valued at $1,348,000. PKO Investment Management Joint Stock Co purchased a new stake in Ovintiv in the fourth quarter worth $344,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Ovintiv by 198.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,622 shares of the company’s stock worth $1,605,000 after purchasing an additional 26,366 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Ovintiv from $46.00 to $41.00 and set an “equal weight” rating for the company in a research note on Monday, June 16th. Morgan Stanley set a $48.00 price objective on shares of Ovintiv and gave the company an “equal weight” rating in a report on Monday, August 18th. UBS Group upped their target price on shares of Ovintiv from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Scotiabank raised their target price on shares of Ovintiv from $48.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Finally, Citigroup set a $54.00 price target on shares of Ovintiv and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Ovintiv currently has an average rating of “Buy” and an average price target of $52.53.

Ovintiv Price Performance

Shares of OVV opened at $42.70 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $40.88 and a 200-day moving average price of $38.95. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $47.18. The stock has a market capitalization of $10.98 billion, a PE ratio of 18.89, a PEG ratio of 5.50 and a beta of 1.08.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. Equities analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Ovintiv’s payout ratio is presently 53.10%.

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.