Ovintiv Inc. (NYSE:OVV) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP raised its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 34.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,707 shares of the company's stock after purchasing an additional 12,821 shares during the quarter. GSA Capital Partners LLP's holdings in Ovintiv were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Entropy Technologies LP grew its position in Ovintiv by 319.9% in the third quarter. Entropy Technologies LP now owns 149,457 shares of the company's stock valued at $5,726,000 after acquiring an additional 113,866 shares during the period. Covestor Ltd increased its position in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company's stock worth $70,000 after purchasing an additional 560 shares in the last quarter. Summit Global Investments lifted its holdings in Ovintiv by 13.1% during the 3rd quarter. Summit Global Investments now owns 19,627 shares of the company's stock valued at $752,000 after purchasing an additional 2,268 shares during the last quarter. Olympiad Research LP acquired a new position in Ovintiv in the third quarter valued at about $332,000. Finally, M&G PLC bought a new stake in Ovintiv during the third quarter worth about $8,620,000. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Up 0.6 %

NYSE OVV traded up $0.24 during trading hours on Wednesday, hitting $42.21. 2,939,185 shares of the company were exchanged, compared to its average volume of 3,068,713. The company has a 50 day moving average of $40.53 and a two-hundred day moving average of $44.58. 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 cap of $10.99 billion, a price-to-earnings ratio of 5.47, a PEG ratio of 7.60 and a beta of 2.62. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. Ovintiv's dividend payout ratio is presently 15.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on OVV shares. Mizuho dropped their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. Truist Financial dropped their price objective on shares of Ovintiv from $62.00 to $47.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Evercore ISI lowered their target price on Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, September 30th. Royal Bank of Canada lowered their price target on shares of Ovintiv from $62.00 to $61.00 and set a "sector perform" rating for the company in a research report on Thursday, August 1st. Finally, Wolfe Research began coverage on Ovintiv in a report on Thursday, July 18th. They issued an "outperform" rating and a $65.00 price target for the company. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ovintiv has an average rating of "Moderate Buy" and an average target price of $57.00.

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.