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

Quest Partners LLC boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 449.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,109 shares of the company’s stock after buying an additional 34,443 shares during the period. Quest Partners LLC’s holdings in Ovintiv were worth $1,613,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in 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 acquiring an additional 1,024,931 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ovintiv by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock worth $180,194,000 after purchasing an additional 142,296 shares during the period. AQR Capital Management LLC raised its position 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 valued at $141,889,000 after buying an additional 1,618,556 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after buying an additional 1,340,947 shares during the period. Finally, Victory Capital Management Inc. grew its position in Ovintiv by 42.6% during the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock worth $44,991,000 after buying an additional 350,909 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on OVV. Wells Fargo & Company reduced their price objective on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada reduced their target price on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Mizuho dropped their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Truist Financial lifted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup dropped their price target 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.71.

Ovintiv Price Performance

Ovintiv stock opened at $44.97 on Tuesday. The business’s fifty day moving average is $40.80 and its two-hundred day moving average is $44.36. 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 firm has a market cap of $11.71 billion, a P/E ratio of 5.96 and a beta of 2.62. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.

Ovintiv Announces Dividend

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