Pacer Advisors Inc. Has $250.69 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Pacer Advisors Inc. increased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 11,282.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,543,648 shares of the company’s stock after buying an additional 6,486,159 shares during the period. Pacer Advisors Inc. owned 2.48% of Ovintiv worth $250,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OVV. US Bancorp DE boosted its holdings in Ovintiv by 4.5% in the first quarter. US Bancorp DE now owns 8,914 shares of the company’s stock valued at $463,000 after acquiring an additional 386 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Ovintiv during the 1st quarter worth approximately $233,000. Acadian Asset Management LLC raised its stake in shares of Ovintiv by 1,228.3% during the first quarter. Acadian Asset Management LLC now owns 8,063 shares of the company’s stock worth $418,000 after buying an additional 7,456 shares during the last quarter. Covestor Ltd raised its stake in shares of Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock worth $81,000 after buying an additional 293 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Ovintiv by 3.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,319 shares of the company’s stock valued at $1,158,000 after buying an additional 835 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup cut their price target on Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 7th. Evercore ISI reduced their target price on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. UBS Group increased their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Price Performance

Shares of OVV opened at $45.75 on Thursday. The company’s 50-day moving average is $41.06 and its 200-day moving average is $44.32. 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 market capitalization of $11.91 billion, a PE ratio of 6.07 and a beta of 2.62. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

Ovintiv Announces Dividend

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 issued a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.62%. 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.