Centiva Capital LP Acquires 12,104 Shares of Ovintiv Inc. (NYSE:OVV)

Centiva Capital LP raised its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 107.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,323 shares of the company's stock after purchasing an additional 12,104 shares during the quarter. Centiva Capital LP's holdings in Ovintiv were worth $894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Tidal Investments LLC grew its position in Ovintiv by 7.0% in the first quarter. Tidal Investments LLC now owns 7,648 shares of the company's stock valued at $397,000 after acquiring an additional 497 shares during the period. Cetera Investment Advisers grew its holdings in shares of Ovintiv by 678.9% in the 1st quarter. Cetera Investment Advisers now owns 37,113 shares of the company's stock worth $1,926,000 after purchasing an additional 32,348 shares during the last quarter. CWM LLC increased its position in shares of Ovintiv by 146.6% during the 2nd quarter. CWM LLC now owns 12,762 shares of the company's stock worth $598,000 after purchasing an additional 7,587 shares in the last quarter. Symmetry Partners LLC lifted its holdings in Ovintiv by 86.8% during the 2nd quarter. Symmetry Partners LLC now owns 9,233 shares of the company's stock valued at $433,000 after purchasing an additional 4,291 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Ovintiv in the second quarter valued at about $4,369,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Trading Down 3.4 %

Shares of Ovintiv stock traded down $1.47 during trading on Friday, reaching $41.20. 2,947,308 shares of the company were exchanged, compared to its average volume of 3,073,746. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The business has a 50-day moving average price of $42.26 and a 200-day moving average price of $43.94. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 5.46 and a beta of 2.63.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv's dividend payout ratio is currently 15.92%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Siebert Williams Shank upgraded Ovintiv to a "strong-buy" rating in a research report on Tuesday, October 15th. Truist Financial increased their target price on Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 15th. UBS Group lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company a "buy" rating in a report on Monday, November 18th. Finally, Evercore ISI decreased their price objective on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and an average target price of $56.65.

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.