Ovintiv Inc. $OVV Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Ovintiv Inc. (NYSE:OVV) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,304 shares of the company’s stock after selling 8,111 shares during the period. Mutual of America Capital Management LLC’s holdings in Ovintiv were worth $10,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its holdings in Ovintiv by 5.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the company’s stock worth $239,000 after buying an additional 297 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Ovintiv by 43.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,154 shares of the company’s stock valued at $49,000 after purchasing an additional 349 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Ovintiv by 0.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 69,212 shares of the company’s stock worth $2,962,000 after purchasing an additional 420 shares during the period. Aberdeen Group plc boosted its stake in shares of Ovintiv by 5.5% during the 1st quarter. Aberdeen Group plc now owns 9,168 shares of the company’s stock valued at $392,000 after buying an additional 475 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Ovintiv by 9.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 5,737 shares of the company’s stock valued at $246,000 after acquiring an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Ovintiv from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. TD Cowen raised Ovintiv to a “strong-buy” rating in a report on Monday, July 7th. Wells Fargo & Company reduced their price objective on shares of Ovintiv from $46.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday. Royal Bank Of Canada set a $55.00 price objective on shares of Ovintiv and gave the stock an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average target price of $51.12.

Ovintiv Stock Performance

Shares of OVV stock opened at $35.94 on Monday. The company has a market cap of $9.24 billion, a P/E ratio of 15.90, a P/E/G ratio of 5.29 and a beta of 0.97. The firm has a 50-day moving average of $40.46 and a 200-day moving average of $38.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. Ovintiv Inc. has a one year low of $29.80 and a one year high of $47.18.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.02). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. Equities research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, September 15th. Ovintiv’s dividend payout ratio (DPR) is currently 53.10%.

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.