Ovintiv Inc. (NYSE:OVV) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Ovintiv Inc. (NYSE:OVV) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 308,400 shares of the company’s stock after selling 9,487 shares during the period. Mutual of America Capital Management LLC’s holdings in Ovintiv were worth $14,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OVV. Balyasny Asset Management L.P. grew its stake in shares of Ovintiv by 1,560.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock worth $63,738,000 after purchasing an additional 1,363,865 shares during the period. Vanguard Group Inc. boosted its position in shares of Ovintiv by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after buying an additional 1,024,931 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Ovintiv by 2,602.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock worth $31,410,000 after buying an additional 688,690 shares in the last quarter. SIR Capital Management L.P. purchased a new stake in shares of Ovintiv in the 2nd quarter worth about $22,732,000. Finally, SG Americas Securities LLC boosted its position in shares of Ovintiv by 6,830.6% in the 1st quarter. SG Americas Securities LLC now owns 411,054 shares of the company’s stock worth $21,334,000 after buying an additional 405,123 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Up 2.0 %

OVV opened at $39.93 on Wednesday. The firm has a 50 day moving average price of $43.46 and a 200 day moving average price of $47.76. The company has a market cap of $10.53 billion, a PE ratio of 5.58, a price-to-earnings-growth ratio of 6.24 and a beta of 2.62. Ovintiv Inc. has a 1 year low of $37.81 and a 1 year high of $55.95. 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 (NYSE:OVV) last posted its earnings results 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. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. Sell-side analysts expect that Ovintiv Inc. will post 5.81 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s dividend payout ratio (DPR) is 16.76%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OVV. Royal Bank of Canada decreased their price objective on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Morgan Stanley decreased their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday. Wolfe Research began coverage on shares of Ovintiv in a research report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Evercore ISI restated an “outperform” rating and issued a $60.00 target price on shares of Ovintiv in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $60.06.

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.