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

Crossmark Global Holdings Inc. grew its position in Ovintiv Inc. (NYSE:OVV) by 341.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,792 shares of the company’s stock after buying an additional 53,221 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ovintiv were worth $2,786,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Raymond James & Associates raised its position in shares of Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after purchasing an additional 2,275 shares during the period. Quarry LP raised its holdings in Ovintiv by 89.1% during the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after buying an additional 19,272 shares during the period. Franklin Resources Inc. raised its holdings in Ovintiv by 16.0% during the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after buying an additional 37,341 shares during the period. Smead Capital Management Inc. boosted its holdings in shares of Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after buying an additional 212,535 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after acquiring an additional 13,536 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Monday, January 13th. 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. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Scotiabank upped their price target on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Finally, Barclays lifted their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.81.

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. The company has a market capitalization of $11.78 billion, a P/E ratio of 6.00 and a beta of 2.63. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The stock has a 50 day moving average of $42.56 and a 200-day moving average of $42.43.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.76. The firm had revenue of $2.32 billion during 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 in the previous year, the business posted $1.74 earnings per share. As a group, equities research analysts predict that Ovintiv Inc. will post 5.58 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.65%. Ovintiv’s dividend payout ratio is currently 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.