Kaufman Rossin Wealth LLC Takes Position in Ovintiv Inc. $OVV

Kaufman Rossin Wealth LLC acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 5,441 shares of the company’s stock, valued at approximately $233,000.

Other large investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC bought a new stake in Ovintiv during the 4th quarter valued at $28,000. Harbour Investments Inc. increased its holdings in shares of Ovintiv by 143.8% during the first quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock valued at $39,000 after purchasing an additional 542 shares during the period. Optiver Holding B.V. bought a new stake in shares of Ovintiv during the fourth quarter valued at about $40,000. Gen Wealth Partners Inc raised its stake in shares of Ovintiv by 91.8% during the first quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock valued at $43,000 after purchasing an additional 484 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in Ovintiv by 146.5% in the first quarter. Quent Capital LLC now owns 1,134 shares of the company’s stock worth $49,000 after purchasing an additional 674 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OVV has been the topic of several research analyst reports. The Goldman Sachs Group raised shares of Ovintiv from a “neutral” rating to a “buy” rating and raised their target price for the company from $47.00 to $51.00 in a research note on Tuesday, July 1st. Mizuho decreased their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Barclays raised their price objective on shares of Ovintiv from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. UBS Group upped their target price on Ovintiv from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley set a $48.00 price target on Ovintiv and gave the company an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $53.07.

Ovintiv Stock Up 1.1%

OVV stock opened at $38.9580 on Thursday. The firm has a market cap of $10.01 billion, a PE ratio of 17.24, a P/E/G ratio of 4.80 and a beta of 1.10. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $47.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $40.09 and a 200 day simple moving average of $39.07.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.92 billion. Equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Ovintiv’s dividend payout ratio is currently 53.10%.

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.