Livforsakringsbolaget Skandia Omsesidigt Buys 1,500 Shares of Ovintiv Inc. (NYSE:OVV)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 29.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,606 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ovintiv were worth $253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 3.8% during the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock valued at $1,456,072,000 after acquiring an additional 1,024,931 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Ovintiv by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock valued at $180,194,000 after buying an additional 142,296 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after buying an additional 1,618,556 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ovintiv by 1.7% in the first quarter. Principal Financial Group Inc. now owns 1,005,797 shares of the company’s stock valued at $52,201,000 after buying an additional 17,206 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Ovintiv by 6.2% in the second quarter. Hsbc Holdings PLC now owns 976,001 shares of the company’s stock valued at $45,778,000 after buying an additional 57,182 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Royal Bank of Canada cut their price target on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Mizuho cut their price target on Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, Evercore ISI lowered their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv Trading Down 1.4 %

NYSE OVV opened at $42.54 on Tuesday. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 8.02 and a beta of 2.61. The stock’s 50 day moving average price is $41.47 and its two-hundred day moving average price is $46.47. 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 Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.

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

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, September 13th. Ovintiv’s dividend payout ratio is currently 16.76%.

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.