Ovintiv Inc. (NYSE:OVV) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its stake in Ovintiv Inc. (NYSE:OVV) by 337.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,531 shares of the company’s stock after acquiring an additional 24,322 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ovintiv were worth $1,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OVV. Innealta Capital LLC acquired a new position in Ovintiv in the 2nd quarter valued at about $39,000. UMB Bank n.a. boosted its stake in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Ovintiv in the second quarter valued at approximately $69,000. Covestor Ltd increased its stake in Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after buying an additional 560 shares during the period. Finally, Blue Trust Inc. lifted its holdings in 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 buying an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 0.0 %

Ovintiv stock opened at $45.73 on Wednesday. The company has a market capitalization of $11.90 billion, a P/E ratio of 6.06 and a beta of 2.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The stock has a 50-day simple moving average of $41.62 and a 200-day simple moving average of $44.13.

Ovintiv Dividend Announcement

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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is currently 15.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Evercore ISI cut their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Barclays upped their price target on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada decreased their price objective on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Scotiabank boosted their price target on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.65.

Ovintiv 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.