CenterBook Partners LP Purchases 52,759 Shares of Ovintiv Inc. (NYSE:OVV)

CenterBook Partners LP grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 220.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 76,655 shares of the company's stock after purchasing an additional 52,759 shares during the period. CenterBook Partners LP's holdings in Ovintiv were worth $3,105,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ninepoint Partners LP grew its position in Ovintiv by 16.9% during the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock worth $9,112,000 after acquiring an additional 32,500 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Ovintiv by 16.0% during the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock valued at $11,527,000 after purchasing an additional 37,341 shares in the last quarter. Westpac Banking Corp increased its stake in shares of Ovintiv by 64.8% in the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after buying an additional 12,340 shares during the period. Retirement Systems of Alabama raised its holdings in Ovintiv by 4.4% in the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock valued at $12,288,000 after buying an additional 13,536 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after purchasing an additional 45,147 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Remove Ads

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Mizuho decreased their target price on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research note on Wednesday, March 5th. Finally, National Bankshares upped their target price on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $56.47.

Ovintiv Trading Up 0.7 %

Shares of NYSE OVV traded up $0.23 during mid-day trading on Tuesday, hitting $32.52. The stock had a trading volume of 928,826 shares, compared to its average volume of 3,152,495. The firm has a market cap of $8.47 billion, a P/E ratio of 4.31 and a beta of 2.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The business has a 50 day moving average price of $40.45 and a two-hundred day moving average price of $41.59. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $54.23.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is currently 28.57%.

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.