Ovintiv Inc. (NYSE:OVV) Stock Position Raised by Bokf Na

Bokf Na increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,225 shares of the company’s stock after acquiring an additional 1,878 shares during the quarter. Bokf Na’s holdings in Ovintiv were worth $1,187,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Ninepoint Partners LP lifted its holdings in shares of Ovintiv by 16.9% in the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock worth $9,112,000 after purchasing an additional 32,500 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Ovintiv by 16.0% during the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock valued at $11,527,000 after acquiring an additional 37,341 shares during the period. Westpac Banking Corp grew its position in shares of Ovintiv by 64.8% during the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company’s stock worth $1,270,000 after acquiring an additional 12,340 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Ovintiv by 19.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company’s stock worth $8,768,000 after acquiring an additional 34,207 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Ovintiv by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after purchasing an additional 45,147 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Up 4.4 %

NYSE OVV opened at $35.36 on Friday. The firm’s 50 day moving average price is $37.08 and its two-hundred day moving average price is $40.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $51.72. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 4.69 and a beta of 1.14.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.22. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. Equities analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend 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%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bankshares raised their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays reduced their price target on Ovintiv from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and lowered their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. Finally, BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $55.76.

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.