Y Intercept Hong Kong Ltd grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 64.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,856 shares of the company's stock after buying an additional 23,452 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Ovintiv were worth $2,293,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after acquiring an additional 636 shares during the last quarter. Innealta Capital LLC purchased a new position in Ovintiv in the 2nd quarter valued at $39,000. UMB Bank n.a. lifted its holdings in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after purchasing an additional 286 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Ovintiv during the 2nd quarter worth $69,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Ovintiv during the third quarter worth $65,000. Institutional investors and hedge funds own 83.81% of the company's stock.
Analyst Ratings Changes
OVV has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on Ovintiv from $60.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company lowered their price target on shares of Ovintiv from $51.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 1st. Evercore ISI dropped their price objective on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, September 30th. UBS Group reduced their target price on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Barclays raised their price target on shares of Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.47.
Read Our Latest Report on Ovintiv
Ovintiv Stock Performance
OVV stock traded down $0.01 on Tuesday, hitting $41.34. The company's stock had a trading volume of 3,557,199 shares, compared to its average volume of 3,075,263. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 5.55 and a beta of 2.63. The firm has a 50 day moving average of $42.38 and a two-hundred day moving average of $43.76.
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 given 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 yield of 2.90%. Ovintiv's payout ratio is 15.92%.
Ovintiv Company Profile
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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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