Ovintiv Inc. (NYSE:OVV) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 92.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,625 shares of the company’s stock after purchasing an additional 12,289 shares during the period. Mediolanum International Funds Ltd’s holdings in Ovintiv were worth $1,017,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their target price for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Mizuho reduced their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Scotiabank raised their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Truist Financial raised their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Barclays raised their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday. Four research 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 company’s stock. Based on data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Price Performance

NYSE OVV opened at $42.25 on Monday. The company has a 50 day simple moving average of $42.45 and a 200-day simple moving average of $42.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 5.60 and a beta of 2.63. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.76. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same period in the prior year, the firm earned $1.74 earnings per share. Equities research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s payout ratio is presently 15.92%.

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.