Ovintiv Inc. (NYSE:OVV) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 76.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,462 shares of the company’s stock after acquiring an additional 51,213 shares during the period. Cerity Partners LLC’s holdings in Ovintiv were worth $5,070,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OVV. Proficio Capital Partners LLC acquired a new position in Ovintiv during the 4th quarter worth about $768,000. Raymond James Financial Inc. acquired a new position in Ovintiv during the 4th quarter worth about $7,773,000. HighTower Advisors LLC lifted its stake in Ovintiv by 4.7% during the 4th quarter. HighTower Advisors LLC now owns 16,175 shares of the company’s stock worth $655,000 after acquiring an additional 719 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after acquiring an additional 940 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in Ovintiv by 8.3% during the 4th quarter. Natixis Advisors LLC now owns 36,393 shares of the company’s stock worth $1,474,000 after acquiring an additional 2,797 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

OVV has been the topic of several recent research reports. The Goldman Sachs Group upgraded Ovintiv from a “neutral” rating to a “buy” rating and upped their price target for the stock from $47.00 to $51.00 in a report on Tuesday, July 1st. Wells Fargo & Company cut their price target on Ovintiv from $46.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, June 16th. Scotiabank upped their price target on Ovintiv from $48.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Mizuho cut their price target on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Barclays upped their price target on Ovintiv from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Buy” and an average target price of $54.47.

Ovintiv Trading Down 2.8%

OVV opened at $39.34 on Thursday. Ovintiv Inc. has a one year low of $29.80 and a one year high of $49.57. The company has a market cap of $10.22 billion, a P/E ratio of 16.74, a PEG ratio of 2.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50-day simple moving average is $38.73 and its 200-day simple moving average is $39.68.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.22. The firm 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 14.89% and a net margin of 6.84%. As a group, equities research analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. Ovintiv’s dividend payout ratio is presently 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.