ING Groep NV Has $447,000 Stock Holdings in Ovintiv Inc. (NYSE:OVV)

ING Groep NV decreased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 94.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,665 shares of the company’s stock after selling 193,335 shares during the period. ING Groep NV’s holdings in Ovintiv were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV lifted its position in shares of Ovintiv by 8.9% during the third quarter. KBC Group NV now owns 333,207 shares of the company’s stock worth $12,765,000 after purchasing an additional 27,338 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Ovintiv by 42.6% during the 3rd 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. Sumitomo Mitsui Trust Group Inc. boosted its position in Ovintiv by 1.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,762 shares of the company’s stock valued at $19,337,000 after buying an additional 5,055 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Ovintiv by 34.8% in the 3rd quarter. GSA Capital Partners LLP now owns 49,707 shares of the company’s stock valued at $1,904,000 after buying an additional 12,821 shares during the period. Finally, Entropy Technologies LP raised its position in shares of Ovintiv by 319.9% during the third quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock worth $5,726,000 after acquiring an additional 113,866 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price target on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial boosted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada reduced their price objective on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Mizuho dropped their target price 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. Finally, JPMorgan Chase & Co. reduced their price target 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 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Ovintiv Price Performance

Shares of NYSE OVV opened at $43.79 on Monday. The company has a fifty day moving average price of $40.71 and a 200 day moving average price of $44.41. The firm has a market cap of $11.40 billion, a PE ratio of 5.81, a PEG ratio of 7.97 and a beta of 2.62. 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 1-year low of $36.90 and a 1-year high of $55.95.

Ovintiv Announces Dividend

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 dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. Ovintiv’s dividend 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.