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Balyasny Asset Management L.P. trimmed its holdings in Ovintiv Inc. (NYSE:OVV – Free Report) by 37.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,506 shares of the company’s stock after selling 9,209 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Ovintiv were worth $628,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after buying an additional 335 shares in the last quarter. Mizuho Bank Ltd. bought a new stake in Ovintiv in the 4th quarter worth about $40,000. Optiver Holding B.V. bought a new stake in Ovintiv in the 4th quarter worth about $40,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after buying an additional 1,000 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.
Ovintiv Trading Down 3.5%
Ovintiv stock opened at $37.63 on Friday. The firm has a 50 day moving average of $37.05 and a 200 day moving average of $40.58. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 4.99 and a beta of 1.14. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $51.72. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.
Ovintiv (NYSE:OVV – Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.22. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. As a group, research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.
Ovintiv Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 3.19%. Ovintiv’s payout ratio is 51.06%.
Wall Street Analyst Weigh In
OVV has been the subject of several research analyst reports. Mizuho reduced their price objective on Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday. National Bankshares lifted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company upped their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price target on shares of Ovintiv in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $55.65.
View Our Latest Research Report on Ovintiv
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.
See Also
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