Ovintiv Inc. (NYSE:OVV) Position Increased by National Bank of Canada FI

National Bank of Canada FI increased its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 505.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,017 shares of the company's stock after buying an additional 90,163 shares during the quarter. National Bank of Canada FI's holdings in Ovintiv were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after acquiring an additional 636 shares during the period. Innealta Capital LLC purchased a new position in Ovintiv during the second quarter worth approximately $39,000. UMB Bank n.a. boosted its holdings in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after purchasing an additional 286 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of Ovintiv during the 3rd quarter valued at $65,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ovintiv in the 2nd quarter worth $69,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OVV shares. Barclays boosted their price target on Ovintiv from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Siebert Williams Shank raised shares of Ovintiv to a "strong-buy" rating in a research report on Tuesday, October 15th. Mizuho reduced their price target 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. Evercore ISI dropped their price objective on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, September 30th. Finally, Scotiabank lifted their target price on shares of Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.47.

Ovintiv Stock Down 1.9 %

Shares of Ovintiv stock traded down $0.79 during trading on Friday, reaching $40.51. The company had a trading volume of 2,323,225 shares, compared to its average volume of 3,069,208. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The firm's fifty day moving average is $42.38 and its 200-day moving average is $43.69. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 5.45 and a beta of 2.63.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, December 13th. Ovintiv's payout ratio is currently 15.92%.

About Ovintiv

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.