denkapparat Operations GmbH Purchases 5,314 Shares of Ovintiv Inc. $OVV

denkapparat Operations GmbH increased its position in Ovintiv Inc. (NYSE:OVV) by 38.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 19,236 shares of the company’s stock after purchasing an additional 5,314 shares during the period. denkapparat Operations GmbH’s holdings in Ovintiv were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OVV. Burney Co. grew its holdings in shares of Ovintiv by 690.5% in the second quarter. Burney Co. now owns 67,091 shares of the company’s stock valued at $2,553,000 after purchasing an additional 58,604 shares in the last quarter. Atlas Capital Advisors Inc. lifted its position in Ovintiv by 1,681.1% during the first quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock valued at $594,000 after purchasing an additional 13,096 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ovintiv by 54.3% in the 1st quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock worth $41,211,000 after buying an additional 338,866 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Ovintiv by 204.2% in the 1st quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock worth $24,988,000 after buying an additional 391,923 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ovintiv by 383.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock valued at $396,267,000 after buying an additional 7,344,796 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $39.41 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $39.45 and its two-hundred day moving average is $39.14. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $47.18. The company has a market capitalization of $9.98 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.86 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. As a group, analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ovintiv’s dividend payout ratio (DPR) is 131.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OVV shares. JPMorgan Chase & Co. lowered their price target on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 3rd. Barclays cut their target price on Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. National Bankshares decreased their price target on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Ovintiv in a research report on Wednesday, November 5th. Finally, Roth Capital initiated coverage on shares of Ovintiv in a research note on Monday, October 13th. They set a “neutral” rating and a $42.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.71.

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.