Ovintiv Inc. (NYSE:OVV) Shares Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC grew its position in shares of Ovintiv Inc. (NYSE:OVV) by 58.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,833 shares of the company’s stock after acquiring an additional 3,255 shares during the period. EP Wealth Advisors LLC’s holdings in Ovintiv were worth $358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Ovintiv by 1,732.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock worth $137,134,000 after buying an additional 3,203,087 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Ovintiv by 1,577.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company’s stock worth $99,587,000 after buying an additional 2,312,292 shares during the period. Alyeska Investment Group L.P. boosted its position in shares of Ovintiv by 243.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,564,698 shares of the company’s stock worth $103,870,000 after buying an additional 1,818,337 shares during the period. AQR Capital Management LLC boosted its position in shares of Ovintiv by 69.7% in the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company’s stock worth $132,992,000 after buying an additional 1,348,221 shares during the period. Finally, Webs Creek Capital Management LP purchased a new stake in shares of Ovintiv in the fourth quarter worth about $54,086,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Trading Up 5.4%

NYSE:OVV opened at $38.11 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $37.02 and its two-hundred day moving average is $40.61. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $51.72. The company has a market cap of $9.92 billion, a PE ratio of 5.05 and a beta of 1.14.

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

Ovintiv Dividend Announcement

The business also recently declared 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 3.15%. The ex-dividend date is Friday, June 13th. Ovintiv’s payout ratio is 51.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OVV. JPMorgan Chase & Co. decreased their target price on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays decreased their target price on Ovintiv from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Williams Trading set a $58.00 target price on Ovintiv in a research report on Wednesday, March 5th. Scotiabank raised Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $55.76.

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.