Worldquant Millennium Advisors LLC Acquires 320 Shares of Ovintiv Inc. (NYSE:OVV)

Worldquant Millennium Advisors LLC grew its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 0.1% in the third quarter, Holdings Channel.com reports. The firm owned 634,873 shares of the company’s stock after buying an additional 320 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Ovintiv were worth $24,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of OVV. True Wealth Design LLC boosted its position in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares during the period. Innealta Capital LLC bought a new stake in shares of Ovintiv in the second quarter worth $39,000. UMB Bank n.a. grew its holdings in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the period. Transamerica Financial Advisors Inc. bought a new position in shares of Ovintiv in the third quarter worth about $65,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ovintiv during the 2nd quarter valued at approximately $69,000. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

Shares of Ovintiv stock opened at $41.17 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. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company’s 50-day moving average price is $42.26 and its two-hundred day moving average price is $43.94. The stock has a market cap of $10.72 billion, a PE ratio of 5.46 and a beta of 2.63.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.92%. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OVV shares. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price target on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Truist Financial raised their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley reduced their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Citigroup cut their price objective 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. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.65.

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.