Bryce Point Capital LLC Buys Shares of 12,045 Ovintiv Inc. (NYSE:OVV)

Bryce Point Capital LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV) during the 4th quarter, Holdings Channel reports. The firm purchased 12,045 shares of the company’s stock, valued at approximately $488,000.

Other hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC increased its position in Ovintiv by 97.6% in the 3rd quarter. Townsquare Capital LLC now owns 8,814 shares of the company’s stock valued at $338,000 after acquiring an additional 4,354 shares during the period. Paloma Partners Management Co bought a new position in shares of Ovintiv in the third quarter worth $284,000. Centiva Capital LP grew its stake in shares of Ovintiv by 107.9% in the third quarter. Centiva Capital LP now owns 23,323 shares of the company’s stock worth $894,000 after purchasing an additional 12,104 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Ovintiv by 17.5% during the third quarter. HighTower Advisors LLC now owns 15,456 shares of the company’s stock valued at $591,000 after purchasing an additional 2,303 shares during the period. Finally, Investment Management Corp of Ontario raised its stake in shares of Ovintiv by 46.1% during the third quarter. Investment Management Corp of Ontario now owns 8,870 shares of the company’s stock valued at $340,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OVV. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Barclays boosted their target price on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. UBS Group decreased their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Truist Financial boosted their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv has an average rating of “Buy” and a consensus target price of $57.17.

Ovintiv Price Performance

OVV opened at $32.89 on Friday. The firm has a market capitalization of $8.57 billion, a P/E ratio of 4.36 and a beta of 2.04. The stock has a fifty day moving average of $42.11 and a 200-day moving average of $41.94. 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 Inc. has a 12-month low of $32.63 and a 12-month high of $55.95.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

About Ovintiv

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.