Banco Santander S.A. Takes $488,000 Position in Ovintiv Inc. (NYSE:OVV)

Banco Santander S.A. acquired a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,736 shares of the company's stock, valued at approximately $488,000.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock worth $250,687,000 after purchasing an additional 6,486,159 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Ovintiv by 88.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,337 shares of the company's stock worth $434,000 after purchasing an additional 5,315 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Ovintiv in the 3rd quarter valued at $215,000. Smead Capital Management Inc. lifted its stake in shares of Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock worth $241,476,000 after purchasing an additional 212,535 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in Ovintiv by 82.2% in the 3rd quarter. Pathstone Holdings LLC now owns 41,645 shares of the company's stock worth $1,595,000 after acquiring an additional 18,783 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OVV shares. Morgan Stanley dropped their price objective on Ovintiv from $53.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on Ovintiv from $51.00 to $42.00 and set an "equal weight" rating for the company in a report on Tuesday, October 1st. Evercore ISI lowered their price target on Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Royal Bank of Canada dropped their target price on Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a report on Thursday, August 1st. Finally, Truist Financial boosted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ovintiv has a consensus rating of "Moderate Buy" and an average price target of $56.71.

Ovintiv Stock Up 0.3 %

NYSE:OVV traded up $0.12 during mid-day trading on Friday, reaching $46.71. The stock had a trading volume of 2,840,282 shares, compared to its average volume of 3,126,670. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market cap of $12.16 billion, a P/E ratio of 6.19 and a beta of 2.62. The business's 50 day moving average is $41.38 and its 200 day moving average is $44.20. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, December 13th. 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.