OVV, Inc. (NYSE: OVV) is the same company as OVV, Inc. The analysts at Seaport Research Partners updated their projections for Ovintiv’s earnings per share (EPS) for the third quarter of 2022 in a study made public on September 21 by the company. N. Pope, an analyst at Seaport Research Partners, has revised his earlier projection for the upcoming quarter, which was $3.08 per share, to $3.04 per share. This change was made to reflect current market conditions. Currently, the consensus estimate for how much Ovintiv will earn per share throughout this year is $9.35. Ovintiv’s earnings for the fourth quarter of 2022 were expected to come in at $2.33 per share, according to projections made by Seaport Research PTN.
When trading started on Friday, the price of an individual share of Ovintiv was $46.79 per share. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.51, and a quick ratio of 0.51, all of which are presented in the table below. During the last year, Ovintiv reached a new all-time high of $63.30, while the company hit a new all-time low of $29.52. The price-to-earnings ratio for the company is 10.88, the price-to-earnings growth ratio is 0.10, and the beta value is 2.99. Its current market value is $11.90 billion, giving it a market capitalization of $21 billion. The moving average price of the share of stock over the past 50 days is $49.55, and the moving average price of the share over the last 200 days is $49.88.
On the other hand, numerous additional research investigations have focused their attention on OVV. In a research report that was made public on July 19, Mizuho reduced both their “buy” rating and their target price for Ovintiv from $77.000 to $69.00. In addition, JPMorgan Chase & Co. rated Ovintiv as “overweight,” which led to the company’s target price for the stock being raised from $60.00 to $66.00 in a research note published on July 13. The new price target was announced in the company’s research note. In a research note published on Tuesday, Bank of America increased its target price on Ovintiv from $60.00 to $70.00. This represents an increase from their previous price of $69.00, which was also their previous target price. On August 31, Barclays released a research note on Ovintiv stating that they had increased their price objective on the company from $71.00 to $75.00 and categorized the stock as “overweight.” Finally, Truist Financial gave Ovintiv a “buy” rating in a research report published on Tuesday, July 19.
Additionally, the company raised its price objective on the stock from $72 to $77, reflecting its belief that the price will continue to rise. The company’s stock was considered when both of these modifications were made. In contrast to the fifteen buy ratings assigned to the stock by research analysts, there is only one hold rating for the company’s shares. The information provided by Bloomberg indicates that the overall recommendation for the company is a “Moderate Buy” and that the business’s overall price objective is $69.78.
In addition, the company announced a quarterly dividend, which will be distributed on the following Friday, September 30. The date was chosen at random. On September 15, a $0.25 dividend payment per share will be made to stockholders recorded in the company’s books. September 14 is the Wednesday that will no longer count toward the dividend total, effective immediately. This amounts to a dividend payment of $1.00 per year, which provides the stock with a dividend yield of 2.14%.
Over the past few months, several hedge funds and institutional investors have modified the OVV positions held in their respective portfolios. In the final three months of 2018, Dimensional Fund Advisors LP increased the number of shares of Ovintiv that it held in its portfolio by 7.9%. This makes Dimensional Fund Advisors LP the direct owner of 440,337 of the company’s shares. After the company recently completed an acquisition of 32,317 additional shares during the most recent quarter, the value of these shares is now at $14,837,000. The transaction occurred during the most recent quarter. During the last three months of 2018, Allianz Asset Management GmbH increased its ownership of Ovintiv by 8.7 percentage points. Following the purchase of 14,162 additional shares during the most recent quarter, Allianz Asset Management GmbH now has a total of 177,573 shares in the company, which are currently valued at $5,984,000. This value was achieved following the recent acquisition of additional shares. Charles Schwab Investment Management Inc. increased the amount of Ovintiv stock owned by 1.4% during the fourth and final quarter of 2018. Following the acquisition of an additional 31,181 shares during the most recent quarter, Charles Schwab Investment Management Inc. now holds a total of 2,313,445 shares of the company’s stock in its portfolio. Because of these acquisitions, the value of the company’s stock has increased to $77,963,000. At the end of the fourth quarter, the addition of Ovintiv to Geode Capital Management LLC’s holdings resulted in a 3.4% increase in the portfolio’s value. After acquiring an additional 157,323 shares during the most recent quarter, Geode Capital Management LLC now holds 4,718,128 shares of the company’s stock in its portfolio. The value of the stock holdings held by Geode Capital Management LLC as of the most recent market close is $159,000,000. And finally, during the last three months of 2018, Schroder Investment Management Group added 14.3% more shares of Ovintiv to its portfolio. Schroder Investment Management Group now has 649,126 shares of the company after purchasing an additional 81,378 shares during the most recent quarter. The value of those shares is equal to $21,876,000, so the company’s total investment in the company is equal to that amount. Institutional investors and hedge funds hold the company’s shares to 78.26% of the total.
Ovintiv Inc. and its subsidiary companies are in charge of all aspects of the natural gas, oil, and natural gas liquids industries, including exploration, development, production, and sales. These activities are carried out in every region of the world. Market Optimization, Operations in Canada, and Operations in the United States are this company’s three primary business divisions, each of which contributes to the company’s overall revenue. The most valuable assets that the company has are the Permian in west Texas, the Anadarko in west-central Oklahoma, and the Montney in northeast British Columbia and northwest Alberta.