114,463 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by Hartree Partners LP

Hartree Partners LP bought a new stake in Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 114,463 shares of the company’s stock, valued at approximately $4,636,000. Ovintiv accounts for 1.7% of Hartree Partners LP’s investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds have also modified their holdings of the business. True Wealth Design LLC increased its holdings in Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after purchasing an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. increased its stake in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Ovintiv by 451.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after purchasing an additional 940 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OVV has been the topic of several recent research reports. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price objective on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley restated an “overweight” rating and set a $57.00 price target on shares of Ovintiv in a report on Wednesday. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Finally, BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $57.00 in a report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Buy” and an average target price of $57.17.

Ovintiv Trading Down 2.5 %

NYSE:OVV opened at $42.24 on Friday. 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’s 50 day simple moving average is $42.59 and its 200-day simple moving average is $41.90. Ovintiv Inc. has a 12-month low of $36.62 and a 12-month high of $55.95. The firm has a market cap of $11.00 billion, a P/E ratio of 5.60 and a beta of 2.55.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 28.57%.

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.