UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Ovintiv Inc. (NYSE:OVV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,021,623 shares of the company's stock after acquiring an additional 80,904 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.39% of Ovintiv worth $39,138,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock worth $250,687,000 after purchasing an additional 6,486,159 shares during the period. Smead Capital Management Inc. boosted its stake in shares of Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock worth $241,476,000 after buying an additional 212,535 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Ovintiv by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company's stock worth $180,194,000 after acquiring an additional 142,296 shares during the period. AQR Capital Management LLC grew its holdings in 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 acquiring an additional 1,618,556 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Ovintiv by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company's stock valued at $71,587,000 after acquiring an additional 133,192 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of NYSE OVV traded down $1.66 during trading on Wednesday, hitting $42.70. 1,786,813 shares of the company were exchanged, compared to its average volume of 3,065,648. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 5.88 and a beta of 2.63. The firm's fifty day moving average price is $42.07 and its 200 day moving average price is $43.96.

Ovintiv Announces Dividend

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

Analysts Set New Price Targets

OVV has been the topic of several recent analyst reports. Barclays increased their target price on shares of Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Mizuho decreased their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, September 12th. UBS Group upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company a "buy" rating in a report on Monday, November 18th. Finally, Wells Fargo & Company cut their price target on shares of Ovintiv from $51.00 to $42.00 and set an "equal weight" rating for the company in a report on Tuesday, October 1st. Five 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.65.

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.