Ovintiv Inc. (NYSE:OVV) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 46.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,870 shares of the company’s stock after purchasing an additional 2,800 shares during the period. Investment Management Corp of Ontario’s holdings in Ovintiv were worth $340,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OVV. True Wealth Design LLC boosted its stake in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Ovintiv during the 2nd quarter valued at about $39,000. UMB Bank n.a. grew its holdings in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the period. Transamerica Financial Advisors Inc. purchased a new stake in shares of Ovintiv in the 3rd quarter valued at approximately $65,000. Finally, International Assets Investment Management LLC purchased a new position in Ovintiv in the second quarter worth approximately $69,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. UBS Group increased their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Mizuho cut their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley decreased their price target on 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, Citigroup dropped their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.65.

Ovintiv Trading Down 3.4 %

Shares of NYSE:OVV opened at $41.20 on Friday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company’s 50 day moving average is $42.31 and its two-hundred day moving average is $43.85. The company has a market cap of $10.73 billion, a PE ratio of 5.46 and a beta of 2.63. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio is presently 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.