American Century Companies Inc. Acquires 40,772 Shares of Ovintiv Inc. (NYSE:OVV)

American Century Companies Inc. raised its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 385,277 shares of the company’s stock after acquiring an additional 40,772 shares during the quarter. American Century Companies Inc. owned about 0.14% of Ovintiv worth $18,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of OVV. American National Bank bought a new stake in Ovintiv during the 1st quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of Ovintiv in the second quarter worth $39,000. Geneos Wealth Management Inc. increased its holdings in shares of Ovintiv by 53.4% in the first quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock worth $45,000 after purchasing an additional 300 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Ovintiv in the fourth quarter worth $68,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ovintiv in the second quarter worth $69,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on OVV shares. Wolfe Research started coverage on shares of Ovintiv in a report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price target on the stock. UBS Group decreased their price target on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Ovintiv in a report on Wednesday, July 10th. Morgan Stanley decreased their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial upped their target price on shares of Ovintiv from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.83.

Ovintiv Price Performance

Shares of NYSE OVV opened at $40.50 on Friday. Ovintiv Inc. has a fifty-two week low of $37.81 and a fifty-two week high of $55.95. The company has a 50 day simple moving average of $43.00 and a two-hundred day simple moving average of $47.60. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 5.66, a P/E/G ratio of 6.50 and a beta of 2.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. Analysts expect that Ovintiv Inc. will post 5.63 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.96%. 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.