Aristides Capital LLC Acquires New Holdings in Ovintiv Inc. (NYSE:OVV)

Aristides Capital LLC acquired a new position in Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,041 shares of the company’s stock, valued at approximately $326,000.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock valued at $137,134,000 after buying an additional 3,203,087 shares during the last quarter. Pacific Heights Asset Management LLC lifted its position in Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock valued at $61,358,000 after acquiring an additional 1,325,000 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Ovintiv by 1,807.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock valued at $32,070,000 after acquiring an additional 750,349 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Ovintiv by 180.0% in the fourth quarter. Teacher Retirement System of Texas now owns 744,905 shares of the company’s stock worth $30,169,000 after purchasing an additional 478,846 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock worth $1,193,272,000 after purchasing an additional 451,947 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on OVV. Scotiabank upgraded Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Barclays upped their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. National Bankshares lifted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their target price on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Finally, Truist Financial lifted their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of “Buy” and a consensus target price of $57.17.

Ovintiv Trading Down 15.8 %

OVV stock opened at $32.89 on Monday. 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 52-week low of $31.95 and a 52-week high of $55.95. The company’s 50-day simple moving average is $42.11 and its 200-day simple moving average is $41.97. The firm has a market cap of $8.57 billion, a P/E ratio of 4.36 and a beta of 2.04.

Ovintiv Announces Dividend

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

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.