Robeco Institutional Asset Management B.V. Acquires 750,349 Shares of Ovintiv Inc. (NYSE:OVV)

Robeco Institutional Asset Management B.V. grew its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 1,807.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 791,853 shares of the company's stock after purchasing an additional 750,349 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.30% of Ovintiv worth $32,070,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock valued at $2,647,000 after buying an additional 231 shares in the last quarter. Drive Wealth Management LLC grew its stake in Ovintiv by 2.5% in the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company's stock valued at $395,000 after acquiring an additional 251 shares during the period. CIBC Asset Management Inc raised 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 worth $304,000 after purchasing an additional 280 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock valued at $97,000 after purchasing an additional 282 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analyst Weigh In

OVV has been the topic of several research analyst reports. Barclays raised their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday. Truist Financial boosted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Citigroup lowered their target price on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Mizuho cut their price target on Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.88.

Ovintiv Stock Performance

Shares of Ovintiv stock traded up $0.01 on Monday, hitting $42.23. The stock had a trading volume of 1,775,826 shares, compared to its average volume of 2,455,179. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 5.59 and a beta of 2.63. 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 twelve month low of $36.90 and a twelve month high of $55.95. The business's 50 day moving average is $42.45 and its two-hundred day moving average is $42.22.

Ovintiv (NYSE:OVV - Get Free Report) last released 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. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the company posted $1.74 EPS. Analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.84%. Ovintiv's payout ratio is 15.92%.

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.