Robeco Institutional Asset Management B.V. Increases Holdings in Ovintiv Inc. (NYSE:OVV)

Robeco Institutional Asset Management B.V. grew its holdings in Ovintiv Inc. (NYSE:OVV) by 1,807.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 791,853 shares of the company’s stock after buying an additional 750,349 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.30% of Ovintiv worth $32,070,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. True Wealth Design LLC lifted its stake in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. UMB Bank n.a. increased its position in shares of Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after buying an additional 286 shares during the period. Transamerica Financial Advisors Inc. bought a new position in Ovintiv in the third quarter worth about $65,000. Finally, Covestor Ltd lifted its holdings in Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after buying an additional 560 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on OVV shares. UBS Group reduced their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Scotiabank increased their price objective on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Barclays upped their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Citigroup dropped their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

Ovintiv Stock Performance

NYSE OVV opened at $43.82 on Friday. The company has a market cap of $11.41 billion, a P/E ratio of 5.81 and a beta of 2.63. The business’s 50 day moving average price is $42.59 and its 200-day moving average price is $42.35. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. 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 (NYSE:OVV) last announced its earnings results on Thursday, November 7th. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.76. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Sell-side analysts predict that Ovintiv Inc. will post 5.58 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, December 13th. Ovintiv’s payout ratio is currently 15.92%.

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.