Ovintiv Inc. (NYSE:OVV) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,172,375 shares of the company’s stock after acquiring an additional 5,832 shares during the period. JPMorgan Chase & Co.’s holdings in Ovintiv were worth $44,914,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. TD Asset Management Inc raised its holdings in Ovintiv by 1.7% during the second quarter. TD Asset Management Inc now owns 41,572 shares of the company’s stock worth $1,948,000 after purchasing an additional 708 shares in the last quarter. Victory Capital Management Inc. raised its stake in Ovintiv by 34.3% during the 2nd quarter. Victory Capital Management Inc. now owns 823,488 shares of the company’s stock worth $38,597,000 after acquiring an additional 210,401 shares in the last quarter. Arizona State Retirement System raised its stake in Ovintiv by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 73,880 shares of the company’s stock worth $3,463,000 after acquiring an additional 2,572 shares in the last quarter. Savant Capital LLC lifted its position in Ovintiv by 2.3% in the second quarter. Savant Capital LLC now owns 29,282 shares of the company’s stock valued at $1,372,000 after acquiring an additional 650 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Ovintiv by 478.2% in the second quarter. Acadian Asset Management LLC now owns 46,617 shares of the company’s stock valued at $2,184,000 after acquiring an additional 38,554 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Up 0.4 %

Shares of Ovintiv stock opened at $41.79 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 5.54 and a beta of 2.63. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company’s 50-day simple moving average is $41.70 and its 200-day simple moving average is $42.66.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is 15.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group cut their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Citigroup reduced their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Scotiabank raised their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Evercore ISI decreased their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $56.59.

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.