KBC Group NV Boosts Stake in Ovintiv Inc. (NYSE:OVV)

KBC Group NV lifted its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 18.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock worth $2,647,000 after buying an additional 231 shares during the period. Drive Wealth Management LLC lifted its position in shares of Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company's stock worth $395,000 after purchasing an additional 251 shares during the period. CIBC Asset Management Inc increased its position in shares of Ovintiv by 3.7% during the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company's stock valued at $304,000 after buying an additional 280 shares during the period. Fifth Third Bancorp lifted its holdings in Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after buying an additional 282 shares during the period. Finally, UMB Bank n.a. boosted its position in Ovintiv by 27.7% during the 3rd 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 in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Price Performance

NYSE OVV traded down $1.62 during trading hours on Friday, reaching $42.25. The company's stock had a trading volume of 2,610,334 shares, compared to its average volume of 2,282,437. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 5.60 and a beta of 2.63. The firm's 50-day moving average price is $42.45 and its 200-day moving average price is $42.31.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.76. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The business had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the prior year, the firm earned $1.74 EPS. On average, equities research analysts predict that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.84%. Ovintiv's payout ratio is currently 15.92%.

Analyst Ratings Changes

A number of equities analysts have issued reports on OVV shares. Mizuho decreased their price objective on Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Bank of America raised shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Wells Fargo & Company decreased their target price on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. UBS Group reduced their price objective on Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Finally, Siebert Williams Shank raised Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.88.

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.