Dynamic Technology Lab Private Ltd Has $1.21 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Dynamic Technology Lab Private Ltd lifted its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 337.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,531 shares of the company's stock after buying an additional 24,322 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Ovintiv were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock worth $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Ovintiv by 114.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company's stock valued at $141,889,000 after purchasing an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. raised its holdings in Ovintiv by 7,422.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company's stock worth $52,064,000 after buying an additional 1,340,947 shares during the period. SIR Capital Management L.P. bought a new position in Ovintiv in the second quarter valued at approximately $22,732,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock valued at $44,991,000 after buying an additional 350,909 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Performance

Shares of OVV stock opened at $45.73 on Wednesday. The stock has a market cap of $11.90 billion, a P/E ratio of 6.06 and a beta of 2.62. The company has a fifty day moving average price of $41.62 and a two-hundred day moving average price of $44.13. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv Announces Dividend

The firm also recently declared 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 2.62%. The ex-dividend date is Friday, December 13th. Ovintiv's payout ratio is currently 15.92%.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Scotiabank lifted 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. UBS Group boosted 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. Citigroup decreased their price objective on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Royal Bank of Canada cut their target price on Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $56.65.

Ovintiv 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.