Systematic Financial Management LP Has $22.64 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Systematic Financial Management LP boosted its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 591,039 shares of the company's stock after buying an additional 75,611 shares during the quarter. Systematic Financial Management LP owned approximately 0.23% of Ovintiv worth $22,643,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock worth $250,687,000 after acquiring an additional 6,486,159 shares during the period. AQR Capital Management LLC boosted its stake 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 worth $141,889,000 after buying an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. grew its stake 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 worth $52,064,000 after acquiring an additional 1,340,947 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after acquiring an additional 1,207,610 shares during the period. Finally, SIR Capital Management L.P. purchased a new stake in Ovintiv in the 2nd quarter worth approximately $22,732,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OVV. UBS Group lifted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company a "buy" rating in a report on Monday, November 18th. Evercore ISI reduced their target price on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Finally, Wells Fargo & Company reduced their target price on shares of Ovintiv from $51.00 to $42.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv has a consensus rating of "Moderate Buy" and a consensus price target of $56.65.

Ovintiv Trading Up 0.1 %

Shares of OVV stock traded up $0.06 during trading hours on Thursday, reaching $42.67. 3,364,768 shares of the stock traded hands, compared to its average volume of 3,065,835. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95. The business has a fifty day moving average price of $42.14 and a 200 day moving average price of $43.95. 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 firm has a market capitalization of $11.11 billion, a PE ratio of 5.65 and a beta of 2.63.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. Ovintiv's dividend payout ratio is currently 15.92%.

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.