Webs Creek Capital Management LP Acquires Shares of 1,335,460 Ovintiv Inc. (NYSE:OVV)

Webs Creek Capital Management LP bought a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,335,460 shares of the company's stock, valued at approximately $54,086,000. Ovintiv comprises 13.0% of Webs Creek Capital Management LP's investment portfolio, making the stock its largest position. Webs Creek Capital Management LP owned 0.51% of Ovintiv at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in Ovintiv by 1,732.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after buying an additional 3,203,087 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Ovintiv by 1,577.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company's stock valued at $99,587,000 after purchasing an additional 2,312,292 shares during the last quarter. Pacific Heights Asset Management LLC boosted its stake in Ovintiv by 697.4% during the 4th quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock worth $61,358,000 after purchasing an additional 1,325,000 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Ovintiv by 1,807.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock worth $32,070,000 after purchasing an additional 750,349 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Ovintiv by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company's stock valued at $225,265,000 after purchasing an additional 683,700 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Up 0.2 %

OVV opened at $33.65 on Thursday. Ovintiv Inc. has a one year low of $29.80 and a one year high of $53.57. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 4.46 and a beta of 2.04. The business's fifty day moving average is $39.01 and its two-hundred day moving average is $41.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.57%. Ovintiv's payout ratio is 28.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. National Bankshares upped their price target on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Barclays cut their price objective on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $55.76.

Ovintiv Company 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.

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