Banco Santander S.A. Purchases Shares of 12,736 Ovintiv Inc. (NYSE:OVV)

Banco Santander S.A. acquired a new stake in Ovintiv Inc. (NYSE:OVV) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 12,736 shares of the company’s stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OVV. Pacer Advisors Inc. boosted its holdings in Ovintiv by 11,282.4% in the third 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 in the last quarter. AQR Capital Management LLC lifted its position in shares of Ovintiv by 114.9% in 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 period. Assenagon Asset Management S.A. boosted its stake in shares of Ovintiv by 7,422.1% during the 3rd 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 position in shares of Ovintiv during the second quarter valued at about $22,732,000. Finally, Victory Capital Management Inc. raised its stake in Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock worth $44,991,000 after buying an additional 350,909 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OVV. Royal Bank of Canada cut their price objective 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. JPMorgan Chase & Co. reduced 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. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their target price 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. Finally, Mizuho decreased their price target on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Five equities 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.71.

Ovintiv Trading Up 0.3 %

Shares of NYSE:OVV opened at $46.71 on Friday. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The stock’s fifty day moving average price is $41.38 and its 200-day moving average price is $44.24. The company has a market cap of $12.16 billion, a P/E ratio of 6.19 and a beta of 2.62. 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s 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.