Quest Partners LLC Purchases 34,443 Shares of Ovintiv Inc. (NYSE:OVV)

Quest Partners LLC lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 449.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,109 shares of the company’s stock after acquiring an additional 34,443 shares during the quarter. Quest Partners LLC’s holdings in Ovintiv were worth $1,613,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. acquired a new position in Ovintiv during the 1st quarter valued at about $214,000. US Bancorp DE boosted its stake in Ovintiv by 4.5% in the first quarter. US Bancorp DE now owns 8,914 shares of the company’s stock valued at $463,000 after acquiring an additional 386 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in Ovintiv during the 1st quarter worth $233,000. Vanguard Group Inc. raised its position in shares of Ovintiv by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock valued at $1,456,072,000 after acquiring an additional 1,024,931 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Ovintiv by 1,228.3% in the 1st quarter. Acadian Asset Management LLC now owns 8,063 shares of the company’s stock valued at $418,000 after purchasing an additional 7,456 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 2.7 %

Shares of Ovintiv stock opened at $44.97 on Tuesday. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The business’s 50 day simple moving average is $40.80 and its 200 day simple moving average is $44.36. The firm has a market cap of $11.71 billion, a PE ratio of 5.96 and a beta of 2.62.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio is presently 15.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OVV. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Citigroup lowered their price target on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Barclays boosted their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada cut their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Five equities research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

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.