Olympiad Research LP Increases Holdings in Ovintiv Inc. $OVV

Olympiad Research LP raised its stake in Ovintiv Inc. (NYSE:OVV) by 19.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,629 shares of the company’s stock after acquiring an additional 1,571 shares during the quarter. Olympiad Research LP’s holdings in Ovintiv were worth $366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Ovintiv by 316.7% in the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after buying an additional 643 shares in the last quarter. Dogwood Wealth Management LLC purchased a new position in Ovintiv in the 2nd quarter worth approximately $35,000. Harbour Investments Inc. boosted its holdings in Ovintiv by 143.8% in the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock worth $39,000 after acquiring an additional 542 shares during the period. Gen Wealth Partners Inc grew its position in Ovintiv by 91.8% in the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock valued at $43,000 after acquiring an additional 484 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Ovintiv during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OVV. JPMorgan Chase & Co. decreased their target price on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. Barclays cut their price objective on shares of Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. National Bankshares lowered their target price on Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ovintiv in a research report on Tuesday. Finally, UBS Group increased their price target on Ovintiv from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.71.

Ovintiv Price Performance

OVV opened at $38.81 on Friday. The company has a market capitalization of $9.83 billion, a P/E ratio of 17.17, a PEG ratio of 1.89 and a beta of 1.00. The company has a 50-day moving average of $39.31 and a 200-day moving average of $39.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $47.18.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, December 15th. Ovintiv’s payout ratio is 131.87%.

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.