Ovintiv Inc. $OVV Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 40.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 25,708 shares of the company’s stock after buying an additional 7,396 shares during the period. Quadrant Capital Group LLC’s holdings in Ovintiv were worth $978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OVV. Cetera Investment Advisers raised its holdings in Ovintiv by 27.0% in the 1st quarter. Cetera Investment Advisers now owns 36,997 shares of the company’s stock valued at $1,583,000 after acquiring an additional 7,869 shares during the last quarter. HB Wealth Management LLC acquired a new position in Ovintiv in the first quarter valued at $241,000. LPL Financial LLC increased its stake in Ovintiv by 13.3% in the first quarter. LPL Financial LLC now owns 101,389 shares of the company’s stock valued at $4,339,000 after purchasing an additional 11,897 shares during the last quarter. Federated Hermes Inc. lifted its position in Ovintiv by 11.7% during the first quarter. Federated Hermes Inc. now owns 184,095 shares of the company’s stock worth $7,879,000 after buying an additional 19,299 shares during the period. Finally, Natixis Advisors LLC boosted its stake in Ovintiv by 23.0% in the 1st quarter. Natixis Advisors LLC now owns 44,770 shares of the company’s stock worth $1,916,000 after buying an additional 8,377 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Price Performance

OVV opened at $40.87 on Monday. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $46.35. The company has a 50 day moving average of $38.80 and a two-hundred day moving average of $39.46. The company has a market cap of $10.35 billion, a P/E ratio of 18.08, a P/E/G 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.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. On average, 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 $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 2.9%. Ovintiv’s dividend payout ratio is presently 131.87%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Ovintiv from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada set a $55.00 target price on shares of Ovintiv and gave the company an “outperform” rating in a report on Wednesday, October 15th. UBS Group upped their price target on shares of Ovintiv from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Roth Capital assumed coverage on shares of Ovintiv in a research note on Monday, October 13th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $51.83.

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.