Ovintiv Inc. $OVV Shares Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. raised its stake in Ovintiv Inc. (NYSE:OVV) by 23.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,044 shares of the company’s stock after buying an additional 62,653 shares during the period. Jefferies Financial Group Inc.’s holdings in Ovintiv were worth $12,368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its position in Ovintiv by 316.7% during the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after purchasing an additional 643 shares in the last quarter. Dogwood Wealth Management LLC acquired a new position in Ovintiv during the second quarter worth about $35,000. Harbour Investments Inc. lifted its holdings in shares of Ovintiv by 143.8% in the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock valued at $39,000 after purchasing an additional 542 shares in the last quarter. Gen Wealth Partners Inc increased its stake in shares of Ovintiv by 91.8% during the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock worth $43,000 after purchasing an additional 484 shares in the last quarter. Finally, MAI Capital Management lifted its stake in Ovintiv by 174.6% in the 2nd quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after buying an additional 744 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Up 1.1%

OVV stock opened at $39.00 on Monday. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $47.04. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.89 and a beta of 1.00. 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 business has a fifty day simple moving average of $38.96 and a 200-day simple moving average of $39.38.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%.The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.86 billion. On average, equities research 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 Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. Ovintiv’s dividend payout ratio is presently 131.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OVV shares. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Ovintiv in a report on Monday, November 17th. Citigroup lowered their price target on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Wells Fargo & Company boosted their price objective on shares of Ovintiv from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 18th. Finally, National Bankshares decreased their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus target price of $51.94.

Ovintiv 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.