Ovintiv Inc. $OVV Shares Sold by Jump Financial LLC

Jump Financial LLC lowered its stake in Ovintiv Inc. (NYSE:OVV) by 67.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,800 shares of the company’s stock after selling 16,100 shares during the quarter. Jump Financial LLC’s holdings in Ovintiv were worth $334,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Colonial Trust Co SC acquired a new position in Ovintiv in the fourth quarter valued at about $28,000. Harbour Investments Inc. lifted its position in Ovintiv by 143.8% in the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock valued at $39,000 after buying an additional 542 shares during the last quarter. Gen Wealth Partners Inc lifted its position in Ovintiv by 91.8% in the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock valued at $43,000 after buying an additional 484 shares during the last quarter. SVB Wealth LLC acquired a new position in Ovintiv in the first quarter valued at about $48,000. Finally, Quent Capital LLC lifted its position in Ovintiv by 146.5% in the first quarter. Quent Capital LLC now owns 1,134 shares of the company’s stock valued at $49,000 after buying an additional 674 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 1.5%

OVV stock opened at $42.76 on Wednesday. The company’s 50 day moving average price is $40.21 and its 200 day moving average price is $38.92. 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 fifty-two week low of $29.80 and a fifty-two week high of $47.18. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 5.35 and a beta of 1.08.

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

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Ovintiv’s dividend payout ratio is presently 53.10%.

Wall Street Analyst Weigh In

A number of research analysts have commented on OVV shares. The Goldman Sachs Group raised shares of Ovintiv from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $51.00 in a research report on Tuesday, July 1st. Scotiabank upped their target price on shares of Ovintiv from $48.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Morgan Stanley set a $48.00 target price on shares of Ovintiv and gave the company an “equal weight” rating in a research report on Monday, August 18th. Wells Fargo & Company cut their price target on shares of Ovintiv from $46.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, June 16th. Finally, TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Ovintiv has an average rating of “Buy” and a consensus price target of $53.07.

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.