Ovintiv Inc. (NYSE:OVV) Shares Sold by Centiva Capital LP

Centiva Capital LP cut its position in Ovintiv Inc. (NYSE:OVV) by 23.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,765 shares of the company’s stock after selling 5,558 shares during the period. Centiva Capital LP’s holdings in Ovintiv were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OVV. Nisa Investment Advisors LLC boosted its stake in Ovintiv by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock worth $2,647,000 after purchasing an additional 231 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Ovintiv by 2.8% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company’s stock worth $412,000 after acquiring an additional 276 shares during the last quarter. Fifth Third Bancorp grew its stake in Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after acquiring an additional 282 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock valued at $830,000 after acquiring an additional 300 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Ovintiv by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 70,053 shares of the company’s stock worth $2,837,000 after purchasing an additional 310 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OVV. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Scotiabank raised Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Williams Trading set a $58.00 price target on shares of Ovintiv in a research report on Wednesday, March 5th. Morgan Stanley restated an “overweight” rating and set a $50.00 price objective on shares of Ovintiv in a research report on Tuesday, April 15th. Finally, Truist Financial boosted their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $55.76.

Ovintiv Price Performance

OVV stock opened at $35.36 on Friday. The business’s fifty day moving average price is $37.08 and its 200 day moving average price is $40.65. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $51.72. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.21 billion, a PE ratio of 4.69 and a beta of 1.14.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.22. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.23 billion. On average, sell-side analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, June 13th. Ovintiv’s dividend payout ratio is currently 51.06%.

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.