Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Ovintiv Inc. (NYSE:OVV)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 57,400 shares of the company's stock, valued at approximately $2,199,000.

Several other hedge funds have also recently bought and sold shares of OVV. B. Riley Wealth Advisors Inc. acquired a new position in shares of Ovintiv in the first quarter valued at approximately $396,000. Tidal Investments LLC boosted its holdings 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 purchasing an additional 497 shares during the period. Atria Investments Inc raised its position in Ovintiv by 6.6% in the 1st quarter. Atria Investments Inc now owns 43,911 shares of the company's stock valued at $2,279,000 after purchasing an additional 2,722 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Ovintiv by 678.9% in the 1st quarter. Cetera Investment Advisers now owns 37,113 shares of the company's stock valued at $1,926,000 after buying an additional 32,348 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Ovintiv by 16.2% during the second quarter. GAMMA Investing LLC now owns 3,684 shares of the company's stock worth $173,000 after buying an additional 514 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of OVV traded down $0.07 on Friday, reaching $45.42. The stock had a trading volume of 1,158,304 shares, compared to its average volume of 3,108,043. The firm has a 50-day moving average of $41.94 and a 200 day moving average of $44.08. The firm has a market capitalization of $11.82 billion, a PE ratio of 6.02 and a beta of 2.62. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. Ovintiv's dividend payout ratio is currently 15.92%.

Wall Street Analysts Forecast Growth

OVV has been the subject of several analyst reports. Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. Scotiabank raised their price target on Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a research note on Monday, November 18th. Evercore ISI dropped their price objective on Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Truist Financial boosted their target price on Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, UBS Group raised their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, November 18th. Five 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.