Perpetual Ltd Buys 12,340 Shares of Ovintiv Inc. (NYSE:OVV)

by · The Markets Daily

Perpetual Ltd raised its stake in Ovintiv Inc. (NYSE:OVV – Free Report) by 64.8% during the 4th quarter, Holdings Channel reports. The fund owned 31,369 shares of the company’s stock after acquiring an additional 12,340 shares during the period. Perpetual Ltd’s holdings in Ovintiv were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Drive Wealth Management LLC increased its stake in shares of Ovintiv by 2.5% during the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock worth $395,000 after purchasing an additional 251 shares during the period. CIBC Asset Management Inc increased its stake in Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock worth $304,000 after acquiring an additional 280 shares during the period. UMB Bank n.a. raised its holdings in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock valued at $231,000 after acquiring an additional 298 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Ovintiv by 1.6% in the third quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock worth $781,000 after purchasing an additional 322 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Down 0.8 %

Shares of NYSE OVV opened at $45.40 on Wednesday. The company’s 50 day moving average price is $42.49 and its 200-day moving average price is $42.44. 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 Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a market capitalization of $11.82 billion, a P/E ratio of 6.02 and a beta of 2.63.

Ovintiv (NYSE:OVV – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Equities analysts forecast that Ovintiv Inc. will post 5.58 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is 15.92%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company lowered their price objective on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Scotiabank raised their target price on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. UBS Group decreased their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Citigroup dropped their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average target price of $56.81.

Get Our Latest Research Report on OVV

Ovintiv Company Profile

(Free Report)

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.

See Also

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