Thrivent Financial for Lutherans Increases Stock Position in Ovintiv Inc. (NYSE:OVV)

Thrivent Financial for Lutherans boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,384 shares of the company’s stock after buying an additional 1,891 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ovintiv were worth $5,684,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OVV. Dimensional Fund Advisors LP raised its stake in shares of Ovintiv by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock worth $180,194,000 after buying an additional 142,296 shares during the period. AQR Capital Management LLC increased its holdings in Ovintiv by 114.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after acquiring an additional 1,618,556 shares in the last quarter. Assenagon Asset Management S.A. raised its position 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 during the period. Victory Capital Management Inc. lifted its holdings in Ovintiv by 42.6% during the third 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. Finally, Hsbc Holdings PLC grew its position in shares of Ovintiv by 6.2% in the second quarter. Hsbc Holdings PLC now owns 976,001 shares of the company’s stock valued at $45,778,000 after purchasing an additional 57,182 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. UBS Group increased their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Barclays lifted their target price on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Ovintiv Price Performance

NYSE:OVV opened at $46.71 on Friday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The stock’s fifty day moving average is $41.38 and its two-hundred day moving average is $44.24. The company has a market capitalization of $12.16 billion, a P/E ratio of 6.19 and a beta of 2.62. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given 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 2.57%. Ovintiv’s payout ratio is currently 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.