Crossmark Global Holdings Inc. Purchases 53,221 Shares of Ovintiv Inc. (NYSE:OVV)

Crossmark Global Holdings Inc. raised its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 341.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,792 shares of the company's stock after purchasing an additional 53,221 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Ovintiv were worth $2,786,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after acquiring an additional 286 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of Ovintiv during the third quarter valued at $65,000. Finally, Covestor Ltd raised 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 acquiring an additional 560 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Up 1.1 %

NYSE:OVV traded up $0.51 on Thursday, hitting $45.76. The stock had a trading volume of 2,640,130 shares, compared to its average volume of 2,620,766. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The business's fifty day moving average is $42.62 and its 200 day moving average is $42.45. The company has a market cap of $11.91 billion, a PE ratio of 6.07 and a beta of 2.63.

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

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, December 13th. Ovintiv's payout ratio is presently 15.92%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OVV shares. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Barclays raised their price objective on Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Citigroup lowered their price objective on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Evercore ISI lowered their price target on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Finally, Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.81.

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.