Kennedy Capital Management LLC Makes New Investment in Ovintiv Inc. $OVV

Kennedy Capital Management LLC bought a new position in shares of Ovintiv Inc. (NYSE:OVV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 111,581 shares of the company’s stock, valued at approximately $4,246,000.

A number of other institutional investors have also made changes to their positions in the business. Burney Co. raised its stake in shares of Ovintiv by 690.5% in the second quarter. Burney Co. now owns 67,091 shares of the company’s stock worth $2,553,000 after acquiring an additional 58,604 shares during the last quarter. Atlas Capital Advisors Inc. increased its holdings in shares of Ovintiv by 1,681.1% in the first quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock valued at $594,000 after purchasing an additional 13,096 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ovintiv by 54.3% in the first quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock valued at $41,211,000 after purchasing an additional 338,866 shares in the last quarter. Raymond James Financial Inc. raised its position in Ovintiv by 204.2% in the 1st quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock worth $24,988,000 after purchasing an additional 391,923 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ovintiv by 11.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 241,568 shares of the company’s stock worth $9,192,000 after buying an additional 23,968 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Trading Up 0.0%

NYSE OVV opened at $42.29 on Friday. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $46.35. The stock has a 50-day simple moving average of $38.75 and a 200 day simple moving average of $39.61. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $10.71 billion, a PE ratio of 46.47, a P/E/G ratio of 1.04 and a beta of 0.77.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%. Research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ovintiv’s payout ratio is currently 131.87%.

Analyst Ratings Changes

A number of research analysts have commented on OVV shares. Zacks Research upgraded Ovintiv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Royal Bank Of Canada set a $55.00 price target on Ovintiv and gave the company an “outperform” rating in a research note on Wednesday, October 15th. William Blair started coverage on Ovintiv in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a report on Monday, December 1st. Finally, Roth Capital assumed coverage on shares of Ovintiv in a research note on Monday, October 13th. They issued a “neutral” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.83.

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.