Ovintiv Inc. (NYSE:OVV) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,200 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ovintiv were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Ovintiv in the 2nd quarter worth about $39,000. UMB Bank n.a. raised its position in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Ovintiv in the second quarter valued at about $69,000. Covestor Ltd grew its position in shares of Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after purchasing an additional 560 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Ovintiv by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock worth $93,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of OVV stock opened at $45.42 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. The company has a market cap of $11.82 billion, a PE ratio of 6.02 and a beta of 2.62. The company’s fifty day simple moving average is $41.94 and its 200-day simple moving average is $44.12. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.

Ovintiv Dividend Announcement

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 given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

Analysts Set New Price Targets

Several equities analysts have weighed in on OVV shares. Barclays raised their price target on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. UBS Group raised 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 Monday, November 18th. Citigroup lowered their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. Finally, 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. Five investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.