Ovintiv Inc. (NYSE:OVV) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,707 shares of the company’s stock after buying an additional 12,821 shares during the period. GSA Capital Partners LLP’s holdings in Ovintiv were worth $1,904,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Ovintiv by 3.8% during the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after buying an additional 1,024,931 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ovintiv by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock worth $180,194,000 after buying an additional 142,296 shares during the period. AQR Capital Management LLC boosted its stake in shares of Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after buying an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Ovintiv by 7,422.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock worth $52,064,000 after buying an additional 1,340,947 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Ovintiv by 6.2% in the second quarter. Hsbc Holdings PLC now owns 976,001 shares of the company’s stock valued at $45,778,000 after purchasing an additional 57,182 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group reduced their price objective on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Mizuho reduced their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley reduced their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada reduced their price objective on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Finally, Citigroup reduced their price objective on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv Trading Down 1.7 %

Shares of OVV opened at $41.95 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a 50 day simple moving average of $40.52 and a 200-day simple moving average of $44.66. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 8.13 and a beta of 2.62.

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 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 yield of 2.86%. Ovintiv’s dividend payout ratio (DPR) is currently 15.92%.

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.