Crossmark Global Holdings Inc. Has $2.79 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Crossmark Global Holdings Inc. raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 341.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm 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 filing with the SEC.

A number of other large investors have also made changes to their positions in OVV. MassMutual Private Wealth & Trust FSB raised its holdings in Ovintiv by 100.8% in the 4th 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 in the last quarter. UMB Bank n.a. raised its stake in shares of Ovintiv by 87.8% in the fourth quarter. UMB Bank n.a. now owns 2,473 shares of the company’s stock valued at $100,000 after purchasing an additional 1,156 shares in the last quarter. Merit Financial Group LLC bought a new position in Ovintiv in the fourth quarter worth $333,000. Foundation Resource Management Inc. boosted its stake in Ovintiv by 0.9% during the fourth quarter. Foundation Resource Management Inc. now owns 89,292 shares of the company’s stock worth $3,616,000 after buying an additional 830 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in Ovintiv by 8.9% in the 4th quarter. Park Avenue Securities LLC now owns 6,845 shares of the company’s stock valued at $277,000 after buying an additional 558 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of NYSE:OVV opened at $45.26 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95. The stock has a market capitalization of $11.78 billion, a P/E ratio of 6.00 and a beta of 2.63. The business has a 50-day moving average price of $42.56 and a two-hundred day moving average price of $42.43.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.76. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same period last year, the firm earned $1.74 earnings per share. Equities analysts predict that Ovintiv Inc. will post 5.58 earnings per share for the current year.

Ovintiv Dividend Announcement

The business 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 2.65%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Analysts Set New Price Targets

Several analysts have recently weighed in on OVV shares. Mizuho decreased their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Scotiabank increased their target price on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Evercore ISI decreased their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company dropped their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.