Campbell & CO Investment Adviser LLC Purchases New Holdings in Ovintiv Inc. $OVV

Campbell & CO Investment Adviser LLC acquired a new position in Ovintiv Inc. (NYSE:OVV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 88,424 shares of the company’s stock, valued at approximately $3,365,000.

A number of other hedge funds have also recently bought and sold shares of OVV. Cambridge Investment Research Advisors Inc. increased its stake in shares of Ovintiv by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,339 shares of the company’s stock valued at $271,000 after buying an additional 909 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Ovintiv by 5.6% in the first quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the company’s stock valued at $239,000 after acquiring an additional 297 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Ovintiv by 144.2% in the first quarter. Envestnet Asset Management Inc. now owns 552,905 shares of the company’s stock valued at $23,664,000 after acquiring an additional 326,489 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Ovintiv in the first quarter worth about $374,000. Finally, Cerity Partners LLC raised its holdings in Ovintiv by 76.2% during the 1st quarter. Cerity Partners LLC now owns 118,462 shares of the company’s stock worth $5,070,000 after purchasing an additional 51,213 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OVV shares. UBS Group raised their target price on shares of Ovintiv from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price objective on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $47.00 target price on shares of Ovintiv in a report on Thursday. National Bankshares dropped their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Finally, Morgan Stanley reduced their price target on Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $51.71.

Ovintiv Stock Up 3.5%

Shares of Ovintiv stock opened at $38.88 on Monday. The company has a market capitalization of $9.85 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day moving average of $39.58 and a two-hundred day moving average of $39.07. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $47.18.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.86 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. As a group, equities analysts predict that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.30 per share. 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 dividend payout ratio (DPR) is presently 131.87%.

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.