Stifel Financial Corp Purchases 580 Shares of Ovintiv Inc. (NYSE:OVV)

Stifel Financial Corp grew its position in Ovintiv Inc. (NYSE:OVV) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,965 shares of the company’s stock after purchasing an additional 580 shares during the quarter. Stifel Financial Corp’s holdings in Ovintiv were worth $849,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in Ovintiv by 33.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,798 shares of the company’s stock worth $599,000 after acquiring an additional 3,737 shares during the period. MetLife Investment Management LLC grew its stake in Ovintiv by 7.6% during the fourth quarter. MetLife Investment Management LLC now owns 146,800 shares of the company’s stock worth $5,945,000 after purchasing an additional 10,338 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Ovintiv by 39.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 43,931 shares of the company’s stock worth $1,779,000 after purchasing an additional 12,473 shares during the period. Dimensional Fund Advisors LP lifted its stake in Ovintiv by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company’s stock valued at $225,265,000 after buying an additional 683,700 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Ovintiv by 8.2% during the 4th quarter. First Trust Advisors LP now owns 996,445 shares of the company’s stock worth $40,356,000 after buying an additional 75,920 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Up 2.3 %

Shares of NYSE OVV opened at $36.13 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.41 billion, a P/E ratio of 4.79 and a beta of 1.14. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $51.72. The business has a 50-day simple moving average of $37.03 and a two-hundred day simple moving average of $40.62.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.22. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. Research analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. Ovintiv’s payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

OVV has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Truist Financial boosted their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on Ovintiv from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Ovintiv in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $55.76.

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.