Ovintiv Inc. (NYSE:OVV) Shares Acquired by Modus Advisors LLC

Modus Advisors LLC lifted its position in Ovintiv Inc. (NYSE:OVV) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,958 shares of the company’s stock after purchasing an additional 3,401 shares during the quarter. Ovintiv comprises 1.4% of Modus Advisors LLC’s holdings, making the stock its 25th largest position. Modus Advisors LLC’s holdings in Ovintiv were worth $4,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its position in Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after purchasing an additional 1,207,610 shares during the period. Pacer Advisors Inc. raised its position in Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. lifted its holdings in Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after acquiring an additional 212,535 shares during the period. Geode Capital Management LLC boosted its position in Ovintiv by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock worth $173,296,000 after purchasing an additional 205,409 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ovintiv by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock worth $180,194,000 after purchasing an additional 142,296 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group lowered their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Scotiabank increased their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Morgan Stanley reduced their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Barclays raised their price objective on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup reduced their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Five equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.59.

Ovintiv Price Performance

Shares of NYSE:OVV traded up $0.24 during midday trading on Friday, hitting $41.85. The company had a trading volume of 191,432 shares, compared to its average volume of 943,411. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 5.55 and a beta of 2.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The business’s 50-day simple moving average is $41.64 and its 200-day simple moving average is $42.74.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.87%. Ovintiv’s dividend payout ratio is presently 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.