Pitcairn Co. Invests $710,000 in Ovintiv Inc. (NYSE:OVV)

Pitcairn Co. acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) during the 3rd quarter, HoldingsChannel reports. The firm acquired 21,589 shares of the company’s stock, valued at approximately $710,000.

Several other large investors have also recently made changes to their positions in OVV. Moors & Cabot Inc. acquired a new stake in shares of Ovintiv during the 3rd quarter valued at $25,000. Huntington National Bank bought a new stake in shares of Ovintiv during the third quarter worth approximately $36,000. FORA Capital LLC bought a new stake in Ovintiv in the second quarter valued at approximately $42,000. Pacer Advisors Inc. acquired a new position in Ovintiv during the third quarter worth $71,000. Finally, Private Capital Group LLC raised its position in shares of Ovintiv by 813.0% in the third quarter. Private Capital Group LLC now owns 2,730 shares of the company’s stock valued at $90,000 after purchasing an additional 2,431 shares during the period. Institutional investors own 69.99% of the company’s stock.

NYSE:OVV opened at $41.33 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.26. Ovintiv Inc. has a one year low of $15.51 and a one year high of $41.34. The firm’s 50 day simple moving average is $35.11 and its 200 day simple moving average is $32.15.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, November 2nd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. Ovintiv had a negative net margin of 8.50% and a positive return on equity of 29.47%. During the same quarter in the previous year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that Ovintiv Inc. will post 5.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.35%. Ovintiv’s dividend payout ratio (DPR) is presently -24.67%.

Several research analysts have issued reports on OVV shares. Seaport Res Ptn restated a “buy” rating on shares of Ovintiv in a report on Thursday, September 23rd. Truist upped their price objective on shares of Ovintiv from $50.00 to $53.00 in a research report on Friday. Mizuho decreased their target price on Ovintiv from $56.00 to $54.00 in a report on Monday, January 3rd. Seaport Global Securities assumed coverage on Ovintiv in a research report on Thursday, September 23rd. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Scotiabank raised Ovintiv from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $44.00 to $46.00 in a research note on Thursday. Four analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $38.57.

Ovintiv Profile

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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