XTX Topco Ltd Takes $3.04 Million Position in Ovintiv Inc. (NYSE:OVV)

XTX Topco Ltd acquired a new position in Ovintiv Inc. (NYSE:OVV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 79,435 shares of the company’s stock, valued at approximately $3,043,000.

Other institutional investors have also recently bought and sold shares of the company. Yaupon Capital Management LP increased its stake in shares of Ovintiv by 47.8% in the 3rd quarter. Yaupon Capital Management LP now owns 269,881 shares of the company’s stock valued at $10,339,000 after buying an additional 87,237 shares during the period. iSAM Funds UK Ltd bought a new position in Ovintiv in the third quarter valued at about $1,154,000. National Bank of Canada FI increased its position in Ovintiv by 505.0% in the third quarter. National Bank of Canada FI now owns 108,017 shares of the company’s stock worth $4,138,000 after purchasing an additional 90,163 shares during the period. EP Wealth Advisors LLC bought a new stake in Ovintiv during the 3rd quarter worth about $214,000. Finally, Two Sigma Advisers LP lifted its position in Ovintiv by 26.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,272,750 shares of the company’s stock valued at $48,759,000 after purchasing an additional 263,500 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the subject of several analyst reports. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho lowered their target price 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 cut their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Citigroup reduced their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.65.

Ovintiv Stock Down 3.5 %

Shares of OVV stock opened at $41.17 on Friday. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95. 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 fifty day moving average of $42.26 and a 200-day moving average of $43.94. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 5.46 and a beta of 2.63.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

Ovintiv 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.