KBC Group NV Buys 61,686 Shares of Ovintiv Inc. (NYSE:OVV)

KBC Group NV increased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 18.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 394,893 shares of the company’s stock after purchasing an additional 61,686 shares during the quarter. KBC Group NV owned 0.15% of Ovintiv worth $15,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. UMB Bank n.a. raised its position in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in Ovintiv in the third quarter worth about $65,000. Finally, Covestor Ltd grew its stake in shares of Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

OVV stock opened at $43.85 on Wednesday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 5.82 and a beta of 2.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a 50-day simple moving average of $42.64 and a two-hundred day simple moving average of $42.36.

Ovintiv (NYSE:OVV) last posted its earnings results on Thursday, November 7th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.76. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the company posted $1.74 earnings per share. On average, equities analysts forecast that Ovintiv Inc. will post 5.58 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, December 13th. Ovintiv’s dividend payout ratio is currently 15.92%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OVV shares. Scotiabank raised their price target on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Truist Financial upped their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group decreased their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Barclays upped their target price on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

About Ovintiv

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.