Ovintiv Inc. (NYSE:OVV) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,207 shares of the company's stock after acquiring an additional 27,338 shares during the period. KBC Group NV owned 0.13% of Ovintiv worth $12,765,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in Ovintiv in the second quarter worth about $39,000. UMB Bank n.a. boosted its position in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock worth $50,000 after purchasing an additional 286 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Ovintiv during the 2nd quarter valued at $69,000. Covestor Ltd lifted its stake in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Ovintiv by 24.0% during the second quarter. Blue Trust Inc. now owns 1,793 shares of the company's stock valued at $93,000 after acquiring an additional 347 shares during the period. Institutional investors own 83.81% of the company's stock.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $43.79 on Friday. 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 Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The firm has a market capitalization of $11.40 billion, a P/E ratio of 5.81, a PEG ratio of 7.97 and a beta of 2.62. The company has a 50 day moving average price of $40.71 and a 200 day moving average price of $44.45.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv's dividend payout ratio is presently 15.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. Wells Fargo & Company dropped their price target on Ovintiv from $51.00 to $42.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 1st. Barclays upped their price objective on Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Friday. Siebert Williams Shank raised shares of Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, Citigroup lowered their price objective on shares of Ovintiv from $58.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, October 7th. Five 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.