Ovintiv Inc. (NYSE:OVV) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 11,282.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,543,648 shares of the company's stock after purchasing an additional 6,486,159 shares during the quarter. Pacer Advisors Inc. owned about 2.48% of Ovintiv worth $250,687,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company's stock valued at $141,889,000 after acquiring an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 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 stake in shares of Ovintiv in the 2nd quarter valued at about $22,732,000. Victory Capital Management Inc. raised its holdings in Ovintiv by 42.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock worth $44,991,000 after buying an additional 350,909 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ovintiv by 338.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 445,187 shares of the company's stock worth $20,866,000 after acquiring an additional 343,709 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of research reports. Royal Bank of Canada cut their price objective on shares of Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 1st. UBS Group lifted their target price on Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Monday. Scotiabank raised their price target on Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a report on Monday. Truist Financial upped their target price on Ovintiv from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Barclays lifted their price objective on Ovintiv from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Friday, November 15th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.71.

Ovintiv Stock Performance

OVV traded up $0.85 during trading on Thursday, reaching $46.59. The company's stock had a trading volume of 3,113,214 shares, compared to its average volume of 3,090,961. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company's fifty day moving average price is $41.06 and its 200-day moving average price is $44.32. The company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 6.18 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.58%. Ovintiv's dividend payout ratio (DPR) is currently 15.92%.

About Ovintiv

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.