Quantbot Technologies LP grew its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 185.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,040 shares of the company's stock after buying an additional 57,848 shares during the quarter. Quantbot Technologies LP's holdings in Ovintiv were worth $3,411,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of OVV. The Manufacturers Life Insurance Company increased its holdings in Ovintiv by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 233,428 shares of the company's stock worth $8,943,000 after acquiring an additional 2,889 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Ovintiv by 57.8% in the third quarter. Bank of Montreal Can now owns 328,361 shares of the company's stock worth $12,599,000 after purchasing an additional 120,235 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Ovintiv by 337.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 31,531 shares of the company's stock worth $1,208,000 after purchasing an additional 24,322 shares in the last quarter. Daiwa Securities Group Inc. increased its stake 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 worth $774,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Ovintiv by 41.3% during the 3rd quarter. Cerity Partners LLC now owns 69,869 shares of the company's stock valued at $2,677,000 after purchasing an additional 20,412 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.
Wall Street Analysts Forecast Growth
OVV has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a report on Monday, November 18th. Truist Financial upped their price objective on Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Royal Bank of Canada decreased their target price on Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 1st. Barclays boosted their price target on Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Citigroup cut their price objective on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.65.
View Our Latest Analysis on Ovintiv
Ovintiv Trading Down 0.5 %
NYSE OVV traded down $0.23 during trading hours on Thursday, hitting $45.49. 2,072,163 shares of the company were exchanged, compared to its average volume of 3,085,362. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $41.84 and a 200 day moving average price of $44.15. The stock has a market cap of $11.84 billion, a PE ratio of 6.03 and a beta of 2.62.
Ovintiv Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv's dividend payout ratio is currently 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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