Pacer Advisors Inc. Has $250.69 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Pacer Advisors Inc. lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 11,282.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,543,648 shares of the company’s stock after buying an additional 6,486,159 shares during the quarter. Pacer Advisors Inc.’s holdings in Ovintiv were worth $250,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 worth $241,476,000 after acquiring an additional 212,535 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ovintiv by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock worth $180,194,000 after purchasing an additional 142,296 shares during the period. AQR Capital Management LLC raised its position in shares of Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after buying an additional 1,618,556 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after buying an additional 1,340,947 shares during the period. Finally, Victory Capital Management Inc. grew its position in Ovintiv by 42.6% during the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock worth $44,991,000 after buying an additional 350,909 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Scotiabank lifted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday. Evercore ISI decreased their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Truist Financial raised their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Performance

NYSE:OVV opened at $45.75 on Thursday. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95. 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 stock has a market capitalization of $11.91 billion, a P/E ratio of 6.07 and a beta of 2.62. The stock has a 50-day moving average price of $41.06 and a 200 day moving average price of $44.32.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

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.