Ovintiv Inc. (NYSE:OVV) Stake Increased by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 57.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,361 shares of the company’s stock after acquiring an additional 120,235 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Ovintiv worth $12,599,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Raymond James & Associates increased its stake in Ovintiv by 1.2% in the 3rd quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock valued at $7,529,000 after buying an additional 2,275 shares during the period. Quarry LP increased its stake in shares of Ovintiv by 89.1% in the second quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after acquiring an additional 19,272 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Ovintiv by 25.0% during the second quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock worth $25,090,000 after acquiring an additional 106,900 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in Ovintiv during the second quarter valued at $1,441,000. Finally, Smead Capital Management Inc. grew its stake in Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after purchasing an additional 212,535 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on OVV. Mizuho reduced their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Scotiabank upped their target price on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. Finally, Morgan Stanley decreased their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $56.65.

Ovintiv Trading Down 0.2 %

Shares of OVV opened at $45.42 on Monday. The stock has a 50 day simple moving average of $41.94 and a 200-day simple moving average of $44.04. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The stock has a market cap of $11.82 billion, a PE ratio of 6.02 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. Ovintiv’s dividend payout ratio is presently 15.92%.

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.