Verition Fund Management LLC Has $4.61 Million Stake in Ovintiv Inc. (NYSE:OVV)

Verition Fund Management LLC grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 186.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,211 shares of the company's stock after purchasing an additional 78,249 shares during the quarter. Verition Fund Management LLC's holdings in Ovintiv were worth $4,605,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. raised its position in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock valued at $250,687,000 after acquiring an additional 6,486,159 shares during the last quarter. Smead Capital Management Inc. increased its holdings in Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock valued at $241,476,000 after purchasing an additional 212,535 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 buying an additional 142,296 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Ovintiv by 114.9% during the 2nd 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ovintiv by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company's stock worth $71,587,000 after purchasing an additional 133,192 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Performance

Ovintiv stock traded down $1.75 during midday trading on Wednesday, hitting $42.61. The company's stock had a trading volume of 3,012,443 shares, compared to its average volume of 3,071,668. The company has a 50-day moving average price of $42.07 and a two-hundred day moving average price of $43.96. 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 $11.09 billion, a price-to-earnings ratio of 5.88 and a beta of 2.63. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.82%. Ovintiv's dividend payout ratio is presently 15.92%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a report on Monday, November 18th. Truist Financial increased their price target on Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Evercore ISI cut their price objective on Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Barclays increased their target price on Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Tuesday, October 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.