Waratah Capital Advisors Ltd. Purchases 45,622 Shares of Ovintiv Inc. $OVV

Waratah Capital Advisors Ltd. lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 15.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,622 shares of the company’s stock after purchasing an additional 45,622 shares during the quarter. Waratah Capital Advisors Ltd. owned about 0.14% of Ovintiv worth $13,341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OVV. New York State Common Retirement Fund boosted its holdings in shares of Ovintiv by 4.3% during the 1st quarter. New York State Common Retirement Fund now owns 120,484 shares of the company’s stock valued at $5,157,000 after buying an additional 5,000 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in Ovintiv by 65.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,700 shares of the company’s stock valued at $73,000 after acquiring an additional 672 shares during the period. Impact Partnership Wealth LLC bought a new stake in Ovintiv during the first quarter worth about $386,000. Kestra Private Wealth Services LLC grew its holdings in Ovintiv by 9.2% in the first quarter. Kestra Private Wealth Services LLC now owns 5,737 shares of the company’s stock worth $246,000 after purchasing an additional 482 shares during the period. Finally, Gallacher Capital Management LLC increased its stake in shares of Ovintiv by 19.6% during the first quarter. Gallacher Capital Management LLC now owns 15,024 shares of the company’s stock valued at $643,000 after purchasing an additional 2,462 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Up 0.8%

Shares of NYSE:OVV opened at $39.13 on Friday. 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 1 year low of $29.80 and a 1 year high of $47.18. The company has a market cap of $9.91 billion, a P/E ratio of 17.31, a PEG ratio of 1.89 and a beta of 1.00. The stock’s fifty day moving average price is $39.27 and its 200-day moving average price is $39.19.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.86 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. Sell-side analysts expect that Ovintiv Inc. will post 5.59 earnings per share 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 given a dividend of $0.30 per share. The ex-dividend date is Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Ovintiv’s dividend payout ratio is 131.87%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. National Bankshares dropped their price target on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Royal Bank Of Canada set a $55.00 target price on Ovintiv and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ovintiv in a research note on Tuesday. Finally, Wells Fargo & Company cut 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 report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.71.

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.