Pathstone Holdings LLC increased its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 82.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,645 shares of the company's stock after purchasing an additional 18,783 shares during the period. Pathstone Holdings LLC's holdings in Ovintiv were worth $1,595,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company's stock worth $141,889,000 after purchasing an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. boosted its position in Ovintiv by 7,422.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company's stock valued at $52,064,000 after buying an additional 1,340,947 shares during the period. SIR Capital Management L.P. purchased a new position in shares of Ovintiv during the second quarter worth approximately $22,732,000. Victory Capital Management Inc. raised its stake in shares of Ovintiv by 42.6% during the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock valued at $44,991,000 after acquiring an additional 350,909 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ovintiv by 338.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 445,187 shares of the company's stock valued at $20,866,000 after purchasing an additional 343,709 shares during the period. 83.81% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on OVV shares. JPMorgan Chase & Co. decreased their target price on Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Royal Bank of Canada dropped their target price on shares of Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a report on Thursday, August 1st. Barclays boosted their price target on shares of Ovintiv from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Truist Financial lifted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Evercore ISI lowered their target price on Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and an average target price of $56.65.
View Our Latest Stock Report on Ovintiv
Ovintiv Stock Down 0.5 %
NYSE OVV traded down $0.23 during trading on Thursday, hitting $45.49. The company's stock had a trading volume of 2,072,163 shares, compared to its average volume of 3,085,362. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $11.84 billion, a PE ratio of 6.03 and a beta of 2.62. The business's 50 day simple moving average is $41.74 and its 200-day simple moving average is $44.14.
Ovintiv Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv's dividend payout ratio is presently 15.92%.
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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