Signaturefd LLC Acquires 376 Shares of Ovintiv Inc. (NYSE:OVV)

Signaturefd LLC lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 2.1% during the 2nd quarter, Holdings Channel reports. The firm owned 18,288 shares of the company’s stock after purchasing an additional 376 shares during the period. Signaturefd LLC’s holdings in Ovintiv were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank acquired a new position in Ovintiv during the first quarter valued at approximately $27,000. Avalon Trust Co acquired a new position in Ovintiv in the fourth quarter valued at approximately $34,000. Innealta Capital LLC bought a new position in shares of Ovintiv during the 2nd quarter worth approximately $39,000. Geneos Wealth Management Inc. increased its stake in shares of Ovintiv by 53.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new position in Ovintiv during the fourth quarter worth $68,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on Ovintiv from $66.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Scotiabank increased their target price on shares of Ovintiv from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. Truist Financial lifted their price objective on Ovintiv from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI reissued an “outperform” rating and issued a $60.00 price target on shares of Ovintiv in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company decreased their price objective on Ovintiv from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.56.

Ovintiv Stock Performance

NYSE OVV traded down $0.99 on Friday, reaching $42.83. 2,964,318 shares of the stock were exchanged, compared to its average volume of 2,970,271. Ovintiv Inc. has a one year low of $38.99 and a one year high of $55.95. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $11.43 billion, a PE ratio of 5.98, a PEG ratio of 7.10 and a beta of 2.63. The company’s 50-day simple moving average is $45.17 and its two-hundred day simple moving average is $48.21.

Ovintiv (NYSE:OVV) last released 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%. Analysts expect that Ovintiv Inc. will post 5.69 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s dividend payout ratio is currently 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.