Robeco Institutional Asset Management B.V. Boosts Position in Ovintiv Inc. (NYSE:OVV)

Robeco Institutional Asset Management B.V. boosted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 1,807.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 791,853 shares of the company’s stock after purchasing an additional 750,349 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ovintiv were worth $32,070,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OVV. True Wealth Design LLC raised its stake in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. UMB Bank n.a. raised its position in Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of Ovintiv in the 3rd quarter worth $65,000. Finally, Covestor Ltd grew its position in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after buying an additional 560 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Down 0.8 %

NYSE OVV opened at $43.82 on Friday. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95. The company has a fifty day simple moving average of $42.59 and a two-hundred day simple moving average of $42.35. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.41 billion, a P/E ratio of 5.81 and a beta of 2.63.

Ovintiv (NYSE:OVV) last released its earnings results on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.76. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $1.74 EPS. On average, analysts forecast that Ovintiv Inc. will post 5.58 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Wall Street Analysts Forecast Growth

OVV has been the subject of several recent research reports. UBS Group decreased their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Truist Financial boosted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho dropped their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Citigroup reduced their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Barclays increased their target price on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.88.

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.