UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 80,904 Shares of Ovintiv Inc. (NYSE:OVV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ovintiv Inc. (NYSE:OVV) by 8.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,021,623 shares of the company’s stock after acquiring an additional 80,904 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.39% of Ovintiv worth $39,138,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Tidal Investments LLC grew its stake in Ovintiv by 7.0% in the first quarter. Tidal Investments LLC now owns 7,648 shares of the company’s stock valued at $397,000 after purchasing an additional 497 shares in the last quarter. Cetera Investment Advisers increased its holdings in Ovintiv by 678.9% during the first quarter. Cetera Investment Advisers now owns 37,113 shares of the company’s stock worth $1,926,000 after buying an additional 32,348 shares during the last quarter. GAMMA Investing LLC raised its position in Ovintiv by 16.2% during the second quarter. GAMMA Investing LLC now owns 3,684 shares of the company’s stock worth $173,000 after acquiring an additional 514 shares in the last quarter. DNB Asset Management AS lifted its stake in Ovintiv by 6.7% in the second quarter. DNB Asset Management AS now owns 50,961 shares of the company’s stock valued at $2,389,000 after acquiring an additional 3,180 shares during the last quarter. Finally, CWM LLC grew its position in shares of Ovintiv by 146.6% in the 2nd quarter. CWM LLC now owns 12,762 shares of the company’s stock valued at $598,000 after acquiring an additional 7,587 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. UBS Group upped their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Evercore ISI dropped their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their price target on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Five 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.65.

Ovintiv Stock Up 0.3 %

Shares of OVV opened at $44.36 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The firm’s 50 day moving average is $42.07 and its 200-day moving average is $43.96. The stock has a market capitalization of $11.55 billion, a PE ratio of 5.88 and a beta of 2.63.

Ovintiv Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is currently 15.92%.

Ovintiv 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.