Asset Management One Co. Ltd. Boosts Holdings in Ovintiv Inc. (NYSE:OVV)

Asset Management One Co. Ltd. boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,804 shares of the company’s stock after buying an additional 11,939 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Ovintiv were worth $3,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of OVV. Innealta Capital LLC purchased a new stake in shares of Ovintiv during the second quarter valued at $39,000. Geneos Wealth Management Inc. boosted its stake in shares of Ovintiv by 53.4% during the first quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after purchasing an additional 300 shares during the period. UMB Bank n.a. boosted its stake in shares of Ovintiv by 27.7% during 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 purchased a new stake in shares of Ovintiv during the second quarter valued at $69,000. Finally, Covestor Ltd boosted its stake in shares of Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after purchasing an additional 293 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $43.17 on Friday. The company has a market capitalization of $11.38 billion, a PE ratio of 6.09, a P/E/G ratio of 7.99 and a beta of 2.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The company has a 50-day simple moving average of $40.52 and a two-hundred day simple moving average of $44.85. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. Ovintiv’s dividend payout ratio is presently 16.93%.

Wall Street Analysts Forecast Growth

OVV has been the subject of a number of recent analyst reports. Evercore ISI lowered their target price on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Citigroup decreased their price objective on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a report on Monday, October 7th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Mizuho decreased their price objective on Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Five 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.00.

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.