Paloma Partners Management Co Invests $284,000 in Ovintiv Inc. (NYSE:OVV)

Paloma Partners Management Co bought a new stake in Ovintiv Inc. (NYSE:OVV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,420 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also bought and sold shares of OVV. Pacer Advisors Inc. raised its position in shares of Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. increased its holdings in Ovintiv by 3.5% in the third 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. Dimensional Fund Advisors LP increased its holdings in Ovintiv by 3.8% in 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 in the last quarter. AQR Capital Management LLC lifted its stake in 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ovintiv by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company’s stock worth $71,587,000 after buying an additional 133,192 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 0.1 %

Ovintiv stock opened at $42.67 on Friday. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm’s 50-day simple moving average is $42.26 and its 200 day simple moving average is $43.94. The stock has a market cap of $11.11 billion, a PE ratio of 5.66 and a beta of 2.63.

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. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio is presently 15.92%.

Wall Street Analyst Weigh In

OVV has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Citigroup dropped their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Barclays raised their target price on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group increased their price target on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Morgan Stanley reduced their price objective on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.65.

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.