B. Metzler seel. Sohn & Co. Holding AG Takes $215,000 Position in Ovintiv Inc. (NYSE:OVV)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the third quarter, Holdings Channel reports. The firm purchased 5,624 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OVV. Public Employees Retirement System of Ohio raised its holdings in Ovintiv by 31.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 157,095 shares of the company’s stock valued at $8,153,000 after buying an additional 37,349 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Ovintiv during the 1st quarter valued at $1,149,000. B. Riley Wealth Advisors Inc. bought a new stake in Ovintiv during the 1st quarter valued at $396,000. Tidal Investments LLC raised its holdings in Ovintiv by 7.0% during the 1st quarter. Tidal Investments LLC now owns 7,648 shares of the company’s stock valued at $397,000 after buying an additional 497 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in Ovintiv during the 1st quarter valued at $617,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OVV shares. Mizuho decreased their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Evercore ISI decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Scotiabank upped their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Finally, UBS Group upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Five equities 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 an average rating of “Moderate Buy” and an average target price of $56.71.

Ovintiv Stock Performance

Shares of OVV stock opened at $45.76 on Tuesday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company’s 50-day moving average is $41.51 and its 200 day moving average is $44.16. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 6.07 and a beta of 2.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is 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.