Ovintiv Inc. (NYSE:OVV) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 5,604.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,058 shares of the company’s stock after acquiring an additional 170,024 shares during the period. SG Americas Securities LLC owned 0.07% of Ovintiv worth $7,407,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ninepoint Partners LP boosted its stake in shares of Ovintiv by 16.9% during the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock valued at $9,112,000 after acquiring an additional 32,500 shares during the last quarter. Westpac Banking Corp lifted its position in 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 buying an additional 12,340 shares during the period. BNP Paribas Financial Markets purchased a new position in Ovintiv during the fourth quarter worth about $25,272,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ovintiv by 19.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company’s stock worth $8,768,000 after buying an additional 34,207 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Ovintiv by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock worth $77,508,000 after buying an additional 45,147 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several recent analyst reports. Mizuho reduced their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $58.00 target price on Ovintiv in a research report on Wednesday, March 5th. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Finally, Scotiabank upgraded Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $55.00.

Ovintiv Stock Performance

Shares of NYSE:OVV opened at $40.70 on Thursday. The company has a market cap of $10.57 billion, a P/E ratio of 5.40 and a beta of 1.09. 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 one year low of $29.80 and a one year high of $49.57. The business’s 50-day simple moving average is $35.46 and its 200 day simple moving average is $39.88.

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

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.95%. Ovintiv’s payout ratio is currently 51.06%.

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.