Ovintiv Inc. (NYSE:OVV) Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 100.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 717 shares of the company’s stock after purchasing an additional 360 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Ovintiv were worth $29,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. UMB Bank n.a. raised its holdings in shares of Ovintiv by 87.8% during the 4th quarter. UMB Bank n.a. now owns 2,473 shares of the company’s stock worth $100,000 after acquiring an additional 1,156 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Ovintiv during the 4th quarter worth about $333,000. Foundation Resource Management Inc. raised its holdings in Ovintiv by 0.9% in the 4th quarter. Foundation Resource Management Inc. now owns 89,292 shares of the company’s stock valued at $3,616,000 after buying an additional 830 shares during the period. Park Avenue Securities LLC lifted its position in Ovintiv by 8.9% in the fourth quarter. Park Avenue Securities LLC now owns 6,845 shares of the company’s stock valued at $277,000 after buying an additional 558 shares during the last quarter. Finally, Oak Thistle LLC boosted its stake in Ovintiv by 37.5% during the fourth quarter. Oak Thistle LLC now owns 31,672 shares of the company’s stock worth $1,283,000 after buying an additional 8,639 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Price Performance

OVV stock opened at $44.90 on Friday. The business has a 50 day moving average price of $42.64 and a 200 day moving average price of $42.47. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 5.96 and a beta of 2.63. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.76. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same quarter in the previous year, the firm earned $1.74 EPS. Equities research analysts anticipate that Ovintiv Inc. will post 5.58 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of research analyst reports. UBS Group reduced their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Evercore ISI decreased their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Barclays boosted their price objective on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and lowered their target price for the company from $55.00 to $54.00 in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.81.

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.