Ovintiv Inc. (NYSE:OVV) Shares Acquired by Quarry LP

Quarry LP grew its stake in shares of Ovintiv Inc. (NYSE:OVV) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,562 shares of the company’s stock after acquiring an additional 660 shares during the period. Quarry LP’s holdings in Ovintiv were worth $1,592,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in OVV. Pacer Advisors Inc. grew its holdings in Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. AQR Capital Management LLC grew its holdings in Ovintiv by 114.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after acquiring an additional 1,618,556 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Ovintiv by 7,422.1% during the 3rd 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 in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Finally, SIR Capital Management L.P. acquired a new position in Ovintiv during the 2nd quarter worth $22,732,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on OVV shares. Wells Fargo & Company decreased their price objective on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Evercore ISI reduced their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Truist Financial raised their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Citigroup reduced their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.65.

Ovintiv Stock Down 3.9 %

OVV stock opened at $42.61 on Thursday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 5.65 and a beta of 2.63. The firm’s 50-day moving average is $42.14 and its two-hundred day moving average is $43.95. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. Ovintiv’s dividend payout ratio (DPR) is 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.