SG Americas Securities LLC Has $12.01 Million Stock Position in Ovintiv Inc. $OVV

SG Americas Securities LLC boosted its stake in Ovintiv Inc. (NYSE:OVV) by 109.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,278 shares of the company’s stock after acquiring an additional 105,591 shares during the period. SG Americas Securities LLC owned 0.07% of Ovintiv worth $12,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Ovintiv by 17.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,059,334 shares of the company’s stock worth $433,418,000 after purchasing an additional 1,669,469 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ovintiv by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,890,315 shares of the company’s stock valued at $387,601,000 after purchasing an additional 203,256 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Ovintiv by 14.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,743,543 shares of the company’s stock worth $264,281,000 after buying an additional 855,043 shares during the period. Millennium Management LLC increased its position in shares of Ovintiv by 116.3% during the fourth quarter. Millennium Management LLC now owns 5,692,806 shares of the company’s stock worth $223,101,000 after buying an additional 3,060,691 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in Ovintiv by 13.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,462,109 shares of the company’s stock worth $214,060,000 after buying an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Ovintiv from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Royal Bank Of Canada set a $70.00 price objective on Ovintiv and gave the stock an “outperform” rating in a research report on Monday, June 22nd. UBS Group dropped their price objective on Ovintiv from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley began coverage on Ovintiv in a research report on Friday, March 27th. They set an “equal weight” rating and a $68.00 target price on the stock. Finally, Citigroup reaffirmed a “neutral” rating and set a $62.00 target price (up from $52.00) on shares of Ovintiv in a research note on Monday, March 30th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.47.

Ovintiv Trading Down 0.9%

OVV opened at $53.08 on Friday. The company has a fifty day moving average price of $56.99 and a two-hundred day moving average price of $50.71. Ovintiv Inc. has a 1-year low of $35.47 and a 1-year high of $63.46. The company has a market cap of $14.92 billion, a P/E ratio of 17.12 and a beta of 0.53. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

Ovintiv (NYSE:OVV) last issued its earnings results on Monday, May 11th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.85 by $0.15. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%.The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Analysts predict that Ovintiv Inc. will post 8.07 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, June 15th. Ovintiv’s dividend payout ratio is presently 38.71%.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.