Park Avenue Securities LLC Increases Holdings in Ovintiv Inc. (NYSE:OVV)

Park Avenue Securities LLC boosted its stake in Ovintiv Inc. (NYSE:OVVFree Report) by 8.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,845 shares of the company’s stock after buying an additional 558 shares during the period. Park Avenue Securities LLC’s holdings in Ovintiv were worth $277,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares in the last quarter. UMB Bank n.a. boosted its stake in Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Ovintiv in the 3rd quarter worth about $65,000. Covestor Ltd boosted its holdings in Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after purchasing an additional 560 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in Ovintiv in the third quarter valued at about $122,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 1.9 %

Shares of NYSE:OVV opened at $44.90 on Friday. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. 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 stock has a market cap of $11.69 billion, a price-to-earnings ratio of 5.96 and a beta of 2.63. The business has a 50-day moving average price of $42.67 and a 200-day moving average price of $42.46.

Ovintiv (NYSE:OVVGet Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.76. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. During the same period in the previous year, the company posted $1.74 earnings per share. Equities analysts predict that Ovintiv Inc. will post 5.58 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, December 13th. Ovintiv’s dividend payout ratio is presently 15.92%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup cut their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Scotiabank lifted their price target on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. UBS Group decreased their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI reduced their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.81.

Get Our Latest Stock Report on OVV

Ovintiv Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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