Bank of Montreal Can increased its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 57.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,361 shares of the company's stock after acquiring an additional 120,235 shares during the period. Bank of Montreal Can owned approximately 0.13% of Ovintiv worth $12,599,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of OVV. Dynamic Technology Lab Private Ltd grew its stake in Ovintiv by 337.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 31,531 shares of the company's stock valued at $1,208,000 after acquiring an additional 24,322 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Ovintiv by 9.2% in the third quarter. Daiwa Securities Group Inc. now owns 20,200 shares of the company's stock valued at $774,000 after purchasing an additional 1,700 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Ovintiv by 41.3% during the 3rd quarter. Cerity Partners LLC now owns 69,869 shares of the company's stock worth $2,677,000 after purchasing an additional 20,412 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Ovintiv by 20.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 201,483 shares of the company's stock worth $7,719,000 after purchasing an additional 34,490 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Ovintiv by 3.5% during the 3rd quarter. Citigroup Inc. now owns 450,565 shares of the company's stock worth $17,261,000 after purchasing an additional 15,066 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Ovintiv Stock Down 2.6 %
Shares of NYSE:OVV traded down $1.19 during mid-day trading on Monday, hitting $44.23. 2,433,394 shares of the company traded hands, compared to its average volume of 3,074,245. 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 52-week low of $36.90 and a 52-week high of $55.95. The firm's 50 day simple moving average is $41.94 and its 200 day simple moving average is $44.04. The firm has a market cap of $11.51 billion, a P/E ratio of 5.87 and a beta of 2.62.
Ovintiv Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 2.71%. The ex-dividend date is Friday, December 13th. Ovintiv's dividend payout ratio (DPR) is 15.92%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on OVV. Scotiabank boosted their price target on Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a report on Monday, November 18th. JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. Truist Financial lifted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Barclays boosted their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Five investment 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.65.
View Our Latest Stock Analysis on OVV
About Ovintiv
(
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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