Vinva Investment Management Ltd Takes Position in Ovintiv Inc. (NYSE:OVV)

Vinva Investment Management Ltd acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,509 shares of the company’s stock, valued at approximately $211,000.

Other large investors also recently added to or reduced their stakes in the company. Drive Wealth Management LLC increased its stake in Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock worth $395,000 after acquiring an additional 251 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Ovintiv by 3.7% during the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after acquiring an additional 280 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Ovintiv by 5.2% in the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after buying an additional 298 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Ovintiv by 24.0% during the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

NYSE OVV opened at $45.42 on Friday. 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 stock’s fifty day moving average is $41.94 and its two-hundred day moving average is $44.08. The firm has a market capitalization of $11.82 billion, a P/E ratio of 6.02 and a beta of 2.62. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is currently 15.92%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Evercore ISI reduced their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group boosted their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Five equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.65.

About Ovintiv

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.