Asset Management One Co. Ltd. Boosts Holdings in Ovintiv Inc. (NYSE:OVV)

Asset Management One Co. Ltd. grew its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,804 shares of the company's stock after acquiring an additional 11,939 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Ovintiv were worth $3,785,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Raymond James & Associates lifted its position in Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company's stock valued at $7,529,000 after acquiring an additional 2,275 shares during the last quarter. Quarry LP increased its position in shares of Ovintiv by 89.1% during the second quarter. Quarry LP now owns 40,902 shares of the company's stock worth $1,917,000 after purchasing an additional 19,272 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Ovintiv by 25.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company's stock valued at $25,090,000 after purchasing an additional 106,900 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ovintiv in the 1st quarter worth $1,149,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in Ovintiv during the 2nd quarter worth $1,441,000. 83.81% of the stock is owned by institutional investors.

Ovintiv Price Performance

Shares of Ovintiv stock traded up $1.62 during trading hours on Friday, reaching $43.17. The stock had a trading volume of 4,205,690 shares, compared to its average volume of 2,216,473. The stock's 50 day moving average is $40.52 and its 200 day moving average is $44.79. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The firm has a market capitalization of $11.38 billion, a PE ratio of 5.73, a PEG ratio of 8.22 and a beta of 2.62.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. Ovintiv's payout ratio is 15.92%.

Analyst Ratings Changes

OVV has been the subject of several recent analyst reports. UBS Group lowered their price target on Ovintiv from $61.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Mizuho dropped their target price on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 9th. Citigroup decreased their price target on shares of Ovintiv from $58.00 to $55.00 and set a "buy" rating for the company in a report on Monday, October 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Ovintiv from $51.00 to $42.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.00.

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.