Vinva Investment Management Ltd Has $387,000 Position in Ovintiv Inc. (NYSE:OVV)

Vinva Investment Management Ltd increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 76.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,728 shares of the company’s stock after purchasing an additional 4,219 shares during the period. Vinva Investment Management Ltd’s holdings in Ovintiv were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Ovintiv by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock worth $2,647,000 after acquiring an additional 231 shares during the period. CIBC Asset Management Inc increased its stake in Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock worth $304,000 after acquiring an additional 280 shares during the period. Fifth Third Bancorp increased its stake in Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after acquiring an additional 282 shares during the period. OneDigital Investment Advisors LLC increased its stake in Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after acquiring an additional 298 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Ovintiv by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock worth $830,000 after acquiring an additional 300 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OVV. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. UBS Group decreased their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. National Bankshares lifted their price target on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Citigroup decreased their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $56.78.

Ovintiv Trading Down 1.4 %

Shares of OVV stock opened at $41.52 on Friday. The firm has a market capitalization of $10.81 billion, a P/E ratio of 5.51 and a beta of 2.55. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $42.80 and its 200 day simple moving average is $41.79.

Ovintiv Announces Dividend

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