Cerity Partners LLC Makes New $288,000 Investment in Ovintiv Inc. (NYSE:OVV)

Cerity Partners LLC purchased a new position in Ovintiv Inc. (NYSE:OVVGet Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,769 shares of the company’s stock, valued at approximately $288,000.

A number of other institutional investors have also bought and sold shares of OVV. Ninepoint Partners LP purchased a new stake in Ovintiv in the 2nd quarter worth $117,987,000. Third Point LLC purchased a new stake in Ovintiv in the 1st quarter worth $121,658,000. Invesco Ltd. increased its stake in Ovintiv by 321.3% in the 1st quarter. Invesco Ltd. now owns 2,396,829 shares of the company’s stock worth $129,597,000 after buying an additional 1,827,966 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Ovintiv by 63.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,950,457 shares of the company’s stock worth $213,604,000 after buying an additional 1,530,397 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Ovintiv by 2,114.1% in the 2nd quarter. National Bank of Canada FI now owns 1,420,513 shares of the company’s stock worth $62,757,000 after buying an additional 1,356,356 shares in the last quarter. Hedge funds and other institutional investors own 78.26% of the company’s stock.

Analysts Set New Price Targets

OVV has been the subject of several research reports. National Bankshares dropped their price objective on shares of Ovintiv from $77.00 to $74.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Cowen increased their price objective on shares of Ovintiv to $79.00 in a report on Tuesday, November 15th. JPMorgan Chase & Co. dropped their price objective on shares of Ovintiv from $78.00 to $69.00 in a report on Wednesday, October 19th. Barclays dropped their price objective on shares of Ovintiv from $78.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Finally, Morgan Stanley dropped their price objective on shares of Ovintiv from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Ovintiv Stock Up 0.0 %

Shares of NYSE OVV opened at $54.46 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $13.57 billion, a P/E ratio of 12.35, a PEG ratio of 0.13 and a beta of 2.83. Ovintiv Inc. has a 1 year low of $29.52 and a 1 year high of $63.30. The firm has a 50-day simple moving average of $51.17 and a two-hundred day simple moving average of $49.93.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Wednesday, December 14th.

Ovintiv Company Profile

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Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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