Quantbot Technologies LP Grows Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Quantbot Technologies LP grew its holdings in Ovintiv Inc. (NYSE:OVV) by 185.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,040 shares of the company’s stock after buying an additional 57,848 shares during the period. Quantbot Technologies LP’s holdings in Ovintiv were worth $3,411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Raymond James & Associates grew its position in Ovintiv by 1.2% in the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after acquiring an additional 2,275 shares in the last quarter. Quarry LP increased its position in shares of Ovintiv by 89.1% during the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock valued at $1,917,000 after purchasing an additional 19,272 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Ovintiv by 25.0% in the second quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock worth $25,090,000 after buying an additional 106,900 shares during the last quarter. Canandaigua National Bank & Trust Co. purchased a new position in Ovintiv during the second quarter worth $1,441,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Ovintiv during the first quarter valued at $1,149,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on OVV shares. Royal Bank of Canada dropped their price target on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Scotiabank boosted their target price on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Citigroup cut their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price target on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.65.

Ovintiv Stock Down 0.5 %

Ovintiv stock opened at $45.49 on Thursday. The business has a fifty day moving average of $41.74 and a two-hundred day moving average of $44.14. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.84 billion, a P/E ratio of 6.03 and a beta of 2.62.

Ovintiv Dividend Announcement

The company 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 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s payout ratio is currently 15.92%.

About Ovintiv

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.