Hillsdale Investment Management Inc. raised its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 1,577.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 298,500 shares of the company's stock after purchasing an additional 280,700 shares during the quarter. Ovintiv comprises 0.6% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 28th largest holding. Hillsdale Investment Management Inc. owned about 0.11% of Ovintiv worth $12,079,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its stake in Ovintiv by 5.2% during the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company's stock valued at $231,000 after buying an additional 298 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Ovintiv by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company's stock valued at $304,000 after acquiring an additional 280 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Ovintiv by 1.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 148,384 shares of the company's stock valued at $5,684,000 after purchasing an additional 1,891 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of Ovintiv by 82.2% during the 3rd quarter. Pathstone Holdings LLC now owns 41,645 shares of the company's stock valued at $1,595,000 after purchasing an additional 18,783 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Ovintiv in the 3rd quarter worth approximately $215,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
OVV has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Citigroup decreased their target price on Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. National Bankshares upped their target price on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Barclays increased their price target on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.11.
Get Our Latest Report on Ovintiv
Ovintiv Stock Up 0.5 %
NYSE OVV traded up $0.24 on Wednesday, reaching $44.04. The stock had a trading volume of 3,260,751 shares, compared to its average volume of 2,956,586. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 1 year low of $36.62 and a 1 year high of $55.95. The business has a 50 day moving average price of $42.71 and a 200 day moving average price of $41.86. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 5.84 and a beta of 2.55.
Ovintiv Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, March 14th. Ovintiv's payout ratio is 28.57%.
Ovintiv Profile
(
Free Report)
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.
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