Sanctuary Advisors LLC Purchases 3,545 Shares of Ovintiv Inc. (NYSE:OVV)

Sanctuary Advisors LLC lifted its holdings in Ovintiv Inc. (NYSE:OVV) by 55.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,991 shares of the company’s stock after purchasing an additional 3,545 shares during the period. Sanctuary Advisors LLC’s holdings in Ovintiv were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OVV. Raymond James & Associates increased its holdings in Ovintiv by 1.2% during the third 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 last quarter. Quarry LP grew its position in shares of Ovintiv by 89.1% during the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock valued at $1,917,000 after acquiring an additional 19,272 shares during the period. Smead Capital Management Inc. increased its stake in shares of Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after purchasing an additional 212,535 shares in the last quarter. Entropy Technologies LP raised its holdings in Ovintiv by 319.9% in the 3rd quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock worth $5,726,000 after purchasing an additional 113,866 shares during the period. Finally, KBC Group NV lifted its position in Ovintiv by 8.9% during the third quarter. KBC Group NV now owns 333,207 shares of the company’s stock valued at $12,765,000 after purchasing an additional 27,338 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of Ovintiv stock opened at $38.69 on Friday. 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 Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The stock has a 50 day moving average of $41.67 and a 200 day moving average of $42.99. The firm has a market cap of $10.07 billion, a PE ratio of 5.13 and a beta of 2.63.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

Wall Street Analyst Weigh In

OVV has been the subject of a number of analyst reports. Truist Financial upped their price target on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Evercore ISI reduced their target price on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company dropped their price target on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Citigroup decreased their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.59.

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.