HighTower Advisors LLC Boosts Position in Ovintiv Inc. (NYSE:OVV)

HighTower Advisors LLC raised its position in Ovintiv Inc. (NYSE:OVV) by 17.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,456 shares of the company’s stock after acquiring an additional 2,303 shares during the quarter. HighTower Advisors LLC’s holdings in Ovintiv were worth $591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after purchasing an additional 6,486,159 shares during the period. AQR Capital Management LLC increased its holdings in Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after buying an additional 1,618,556 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock worth $52,064,000 after acquiring an additional 1,340,947 shares during the period. SIR Capital Management L.P. purchased a new position in shares of Ovintiv during the 2nd quarter worth $22,732,000. Finally, Victory Capital Management Inc. grew its position in shares of Ovintiv by 42.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after acquiring an additional 350,909 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Down 0.7 %

Shares of OVV stock opened at $37.74 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 has a market capitalization of $9.82 billion, a price-to-earnings ratio of 5.01 and a beta of 2.63. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95. The stock’s 50-day moving average price is $42.01 and its 200-day moving average price is $43.31.

Ovintiv Dividend Announcement

The company also recently disclosed 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 3.18%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of recent research reports. UBS Group decreased their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their target price on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday. Truist Financial raised their target price 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.59.

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.