Banco Santander S.A. Makes New $618,000 Investment in Ovintiv Inc. (NYSE:OVV)

Banco Santander S.A. acquired a new position in Ovintiv Inc. (NYSE:OVV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,907 shares of the company’s stock, valued at approximately $618,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of OVV. Ceredex Value Advisors LLC acquired a new position in shares of Ovintiv during the fourth quarter valued at $67,149,000. Balyasny Asset Management L.P. lifted its stake in shares of Ovintiv by 1,560.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock valued at $63,738,000 after acquiring an additional 1,363,865 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of Ovintiv by 2,602.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock valued at $31,410,000 after acquiring an additional 688,690 shares during the period. SG Americas Securities LLC lifted its stake in shares of Ovintiv by 6,830.6% during the first quarter. SG Americas Securities LLC now owns 411,054 shares of the company’s stock valued at $21,334,000 after acquiring an additional 405,123 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Ovintiv by 605.3% during the fourth quarter. Allianz Asset Management GmbH now owns 433,952 shares of the company’s stock valued at $19,059,000 after acquiring an additional 372,427 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Down 1.2 %

Shares of NYSE:OVV traded down $0.56 during mid-day trading on Friday, reaching $47.24. 2,053,622 shares of the stock were exchanged, compared to its average volume of 2,983,432. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.53. The company has a market cap of $12.61 billion, a P/E ratio of 6.60 and a beta of 2.63. Ovintiv Inc. has a one year low of $39.68 and a one year high of $55.95. The stock’s 50 day simple moving average is $47.93 and its 200-day simple moving average is $47.91.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. As a group, equities research analysts predict that Ovintiv Inc. will post 6.02 EPS for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.54%. Ovintiv’s payout ratio is presently 16.76%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OVV. Morgan Stanley increased their target price on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group increased their target price on Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Mizuho increased their target price on Ovintiv from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 13th. TD Cowen increased their target price on Ovintiv from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Wolfe Research began coverage on Ovintiv in a research note on Thursday. They issued an “outperform” rating and a $65.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.56.

Insider Buying and Selling

In related news, Director Howard John Mayson sold 4,000 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares in the company, valued at $2,315,568.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ovintiv news, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the completion of the transaction, the director now directly owns 8,929 shares in the company, valued at $446,450. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Howard John Mayson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the completion of the transaction, the director now owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.