Vinva Investment Management Ltd Acquires 4,219 Shares of Ovintiv Inc. (NYSE:OVV)

Vinva Investment Management Ltd increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 76.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,728 shares of the company’s stock after buying an additional 4,219 shares during the quarter. Vinva Investment Management Ltd’s holdings in Ovintiv were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OVV. Pacific Heights Asset Management LLC grew its holdings in shares of Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock worth $61,358,000 after buying an additional 1,325,000 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Ovintiv by 17.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after buying an additional 1,207,610 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ovintiv by 1,807.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock worth $32,070,000 after buying an additional 750,349 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Ovintiv by 2,105.0% during the third quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock worth $12,763,000 after buying an additional 318,041 shares in the last quarter. Finally, Amundi grew its holdings in shares of Ovintiv by 32.6% during the fourth quarter. Amundi now owns 1,197,807 shares of the company’s stock worth $50,823,000 after buying an additional 294,197 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OVV has been the subject of a number of research reports. National Bankshares increased their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho decreased their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Citigroup decreased their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Barclays raised their price target on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their price target on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.78.

Ovintiv Stock Performance

OVV opened at $41.52 on Friday. Ovintiv Inc. has a 12-month low of $36.62 and a 12-month high of $55.95. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 5.51 and a beta of 2.55. The business has a 50 day moving average of $42.80 and a 200-day moving average of $41.79. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.89%. Ovintiv’s payout ratio is currently 28.57%.

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.