Lifestyle Asset Management Inc. Makes New $731,000 Investment in Ovintiv Inc. (NYSE:OVV)

Lifestyle Asset Management Inc. bought a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,058 shares of the company's stock, valued at approximately $731,000.

Other large investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock valued at $314,623,000 after purchasing an additional 1,207,610 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock valued at $250,687,000 after acquiring an additional 6,486,159 shares during the last quarter. Smead Capital Management Inc. boosted its holdings in shares of Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock worth $241,476,000 after acquiring an additional 212,535 shares in the last quarter. Geode Capital Management LLC grew its position in Ovintiv by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock worth $173,296,000 after acquiring an additional 205,409 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Ovintiv by 114.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company's stock valued at $141,889,000 after purchasing an additional 1,618,556 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group decreased their target price on Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Bank of America raised shares of Ovintiv from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Siebert Williams Shank raised shares of Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Finally, Mizuho lowered their price objective on Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.81.

Ovintiv Trading Down 1.9 %

NYSE:OVV traded down $0.85 on Friday, reaching $44.90. The company's stock had a trading volume of 2,309,399 shares, compared to its average volume of 2,600,013. The firm has a market cap of $11.69 billion, a PE ratio of 5.96 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 business's 50-day moving average price is $42.64 and its two-hundred day moving average price is $42.47. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.09 by $0.76. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. 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 previous year, the firm posted $1.74 EPS. Equities research analysts anticipate that Ovintiv Inc. will post 5.58 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv's payout ratio is 15.92%.

Ovintiv Company 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.