Banco Santander S.A. Purchases New Stake in Ovintiv Inc. (NYSE:OVV)

Banco Santander S.A. acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,736 shares of the company’s stock, valued at approximately $488,000.

Several other hedge funds have also added to or reduced their stakes in OVV. Innealta Capital LLC bought a new position in Ovintiv during the second quarter valued at $39,000. UMB Bank n.a. grew its stake in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares during the period. International Assets Investment Management LLC purchased a new stake in Ovintiv in the 2nd quarter worth about $69,000. Blue Trust Inc. raised its stake in Ovintiv by 24.0% in the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after acquiring an additional 347 shares during the period. Finally, Covestor Ltd lifted its holdings in Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after purchasing an additional 560 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OVV shares. Wells Fargo & Company reduced their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Citigroup cut their price target on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a report on Monday, October 7th. UBS Group boosted 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, Evercore ISI dropped their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Ovintiv Stock Up 0.3 %

Shares of NYSE:OVV opened at $46.71 on Friday. The firm has a market capitalization of $12.16 billion, a PE ratio of 6.19 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 Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The firm has a fifty day moving average of $41.38 and a 200 day moving average of $44.24.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s payout ratio is currently 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.