AGF Management Ltd. Has $2.99 Million Stake in Ovintiv Inc. (NYSE:OVV)

AGF Management Ltd. reduced its position in Ovintiv Inc. (NYSE:OVV) by 83.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,792 shares of the company’s stock after selling 319,223 shares during the quarter. AGF Management Ltd.’s holdings in Ovintiv were worth $2,990,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Ovintiv by 1,202.0% in the fourth quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock valued at $610,000 after acquiring an additional 12,813 shares during the period. Jump Financial LLC bought a new stake in shares of Ovintiv in the 4th quarter valued at approximately $478,000. Dimensional Fund Advisors LP raised its holdings in shares of Ovintiv by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,639,579 shares of the company’s stock worth $115,937,000 after buying an additional 168,320 shares in the last quarter. Westpac Banking Corp boosted its stake in Ovintiv by 219.5% in the 4th quarter. Westpac Banking Corp now owns 2,933 shares of the company’s stock valued at $129,000 after buying an additional 2,015 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ovintiv by 18.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 117,865 shares of the company’s stock valued at $5,252,000 after acquiring an additional 18,021 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Ovintiv from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company reduced their price target on shares of Ovintiv from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Evercore ISI reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Ovintiv in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wolfe Research began coverage on Ovintiv in a report on Thursday, July 18th. They set an “outperform” rating and a $65.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Ovintiv Stock Up 0.1 %

Shares of NYSE:OVV opened at $38.77 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 5.41, a P/E/G ratio of 6.48 and a beta of 2.62. The company has a 50 day moving average of $43.90 and a 200-day moving average of $47.94. Ovintiv Inc. has a one year low of $37.81 and a one year high of $55.95.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, July 30th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. On average, sell-side analysts forecast that Ovintiv Inc. will post 5.81 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s payout ratio is 16.76%.

About Ovintiv

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.