Ovintiv Inc. $OVV Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in Ovintiv Inc. (NYSE:OVV) by 32.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 496,500 shares of the company’s stock after selling 237,700 shares during the period. Swiss National Bank owned 0.19% of Ovintiv worth $18,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in Ovintiv by 316.7% during the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after buying an additional 643 shares during the last quarter. Dogwood Wealth Management LLC acquired a new stake in shares of Ovintiv during the 2nd quarter valued at approximately $35,000. Harbour Investments Inc. lifted its stake in Ovintiv by 143.8% during the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock worth $39,000 after purchasing an additional 542 shares during the last quarter. Gen Wealth Partners Inc lifted its stake in Ovintiv by 91.8% during the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock worth $43,000 after purchasing an additional 484 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Ovintiv in the first quarter worth $48,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Ovintiv from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Mizuho dropped their price objective on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Evercore ISI restated an “outperform” rating and issued a $47.00 target price on shares of Ovintiv in a research note on Thursday, November 6th. Roth Capital started coverage on Ovintiv in a report on Monday, October 13th. They set a “neutral” rating and a $42.00 target price for the company. Finally, Citigroup cut their price target on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.83.

Ovintiv Trading Up 3.6%

Shares of OVV stock opened at $40.44 on Thursday. The firm has a market capitalization of $10.24 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $46.45. The stock has a fifty day moving average of $38.84 and a two-hundred day moving average of $39.43.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. As a group, research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th. Ovintiv’s payout ratio is currently 131.87%.

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.