Ovintiv Inc. (NYSE:OVV) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 185.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 89,040 shares of the company’s stock after purchasing an additional 57,848 shares during the period. Quantbot Technologies LP’s holdings in Ovintiv were worth $3,411,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in 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 holdings 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 purchasing an additional 1,618,556 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after purchasing an additional 1,340,947 shares in the last quarter. SIR Capital Management L.P. purchased a new stake in shares of Ovintiv in the second quarter valued at approximately $22,732,000. Finally, Victory Capital Management Inc. increased its stake in shares of Ovintiv by 42.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock worth $44,991,000 after acquiring an additional 350,909 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their target price on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Truist Financial lifted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 15th. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley cut their target price on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their price target on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.65.

Ovintiv Stock Down 0.5 %

OVV stock opened at $45.49 on Thursday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a fifty day moving average of $41.74 and a 200-day moving average of $44.14. The stock has a market capitalization of $11.84 billion, a PE ratio of 6.03 and a beta of 2.62.

Ovintiv Dividend Announcement

The firm 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. This represents a $1.20 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio is presently 15.92%.

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.