Counterpoint Mutual Funds LLC Acquires 2,046 Shares of Ovintiv Inc. (NYSE:OVV)

Counterpoint Mutual Funds LLC increased its holdings in Ovintiv Inc. (NYSE:OVV) by 33.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,221 shares of the company’s stock after purchasing an additional 2,046 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Ovintiv were worth $333,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its position in Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after purchasing an additional 1,207,610 shares during the last quarter. Pacer Advisors Inc. increased its position in Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after acquiring an additional 6,486,159 shares during the last quarter. Smead Capital Management Inc. increased its position in Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after acquiring an additional 212,535 shares during the last quarter. Geode Capital Management LLC increased its position in Ovintiv by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after acquiring an additional 205,409 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Ovintiv by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock valued at $118,530,000 after acquiring an additional 8,168 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OVV. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Scotiabank boosted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, Truist Financial boosted their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $56.61.

Ovintiv Stock Up 1.3 %

NYSE:OVV opened at $41.06 on Tuesday. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The company has a 50-day moving average of $42.87 and a 200 day moving average of $41.81. The firm has a market cap of $10.69 billion, a PE ratio of 5.45 and a beta of 2.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 28.57%.

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.