Cetera Investment Advisers Buys 353 Shares of Ovintiv Inc. (NYSE:OVV)

Cetera Investment Advisers lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 1.0% during the second quarter, HoldingsChannel reports. The firm owned 37,466 shares of the company’s stock after acquiring an additional 353 shares during the quarter. Cetera Investment Advisers’ holdings in Ovintiv were worth $1,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American National Bank bought a new stake in shares of Ovintiv during the 1st quarter worth approximately $27,000. Innealta Capital LLC bought a new stake in shares of Ovintiv during the 2nd quarter worth approximately $39,000. Geneos Wealth Management Inc. raised its stake in shares of Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock worth $45,000 after purchasing an additional 300 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Ovintiv during the 2nd quarter worth approximately $69,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Ovintiv during the 1st quarter worth approximately $74,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

OVV has been the topic of a number of recent analyst reports. Evercore ISI decreased their target price on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Scotiabank upped their price objective on Ovintiv from $58.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Wolfe Research initiated coverage on Ovintiv in a report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Finally, Citigroup decreased their price objective on Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv Price Performance

Shares of OVV stock opened at $42.54 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a market cap of $11.36 billion, a P/E ratio of 5.94, a P/E/G ratio of 8.02 and a beta of 2.61. The business has a fifty day simple moving average of $41.47 and a 200 day simple moving average of $46.47.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.53 billion. On average, sell-side analysts forecast that Ovintiv Inc. will post 4.9 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.82%. Ovintiv’s dividend payout ratio is presently 16.76%.

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.