MQS Management LLC Has $292,000 Stock Holdings in Ovintiv Inc. (NYSE:OVV)

MQS Management LLC trimmed its stake in shares of Ovintiv Inc. (NYSE:OVV) by 45.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,631 shares of the company’s stock after selling 6,242 shares during the quarter. MQS Management LLC’s holdings in Ovintiv were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Ovintiv by 114.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after buying an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. raised its stake in Ovintiv by 7,422.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock worth $52,064,000 after acquiring an additional 1,340,947 shares in the last quarter. Vanguard Group Inc. raised its stake in Ovintiv by 3.8% during the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after acquiring an additional 1,024,931 shares in the last quarter. SIR Capital Management L.P. bought a new position in shares of Ovintiv during the second quarter valued at $22,732,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Ovintiv by 42.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after purchasing an additional 350,909 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on OVV shares. Citigroup reduced their price target on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Wolfe Research began coverage on Ovintiv in a report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 target price on the stock. Morgan Stanley dropped their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Truist Financial lowered their target price on Ovintiv from $62.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ovintiv currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv Trading Up 5.9 %

NYSE:OVV opened at $44.72 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. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 7.60 and a beta of 2.62. The business’s 50-day moving average price is $40.56 and its two-hundred day moving average price is $44.56. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. Ovintiv’s payout ratio is 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.