Ovintiv Inc. (NYSE:OVV) Shares Purchased by KBC Group NV

KBC Group NV grew its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,207 shares of the company’s stock after buying an additional 27,338 shares during the quarter. KBC Group NV owned 0.13% of Ovintiv worth $12,765,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in OVV. Innealta Capital LLC purchased a new stake in Ovintiv during the 2nd quarter worth $39,000. UMB Bank n.a. boosted its position in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after buying an additional 286 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Ovintiv in the second quarter valued at about $69,000. Covestor Ltd grew its stake in shares of Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Ovintiv by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OVV. Mizuho lowered their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada lowered their price target on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Evercore ISI cut their price objective on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. UBS Group lowered their target price on Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company cut their price target on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Ovintiv Stock Performance

Shares of OVV opened at $43.79 on Friday. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The firm has a market capitalization of $11.40 billion, a PE ratio of 5.81, a P/E/G ratio of 7.64 and a beta of 2.62. The firm has a 50-day moving average price of $40.71 and a 200 day moving average price of $44.45. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.74%. Ovintiv’s payout ratio is 15.92%.

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.