Dynamic Technology Lab Private Ltd Has $1.67 Million Stake in Ovintiv Inc. (NYSE:OVV)

Dynamic Technology Lab Private Ltd lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,279 shares of the company’s stock after purchasing an additional 9,748 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Ovintiv were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in OVV. Nisa Investment Advisors LLC increased its position in Ovintiv by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock worth $2,647,000 after buying an additional 231 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Ovintiv by 2.8% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company’s stock worth $412,000 after purchasing an additional 276 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after purchasing an additional 282 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Ovintiv by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock worth $830,000 after purchasing an additional 300 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Ovintiv by 1.6% during the third quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock worth $781,000 after purchasing an additional 322 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OVV shares. National Bankshares increased their price target on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Truist Financial raised their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Mizuho reduced their price target on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $57.17.

Ovintiv Stock Performance

NYSE:OVV opened at $32.89 on Friday. The stock’s 50-day moving average is $42.11 and its 200-day moving average is $41.94. The stock has a market cap of $8.57 billion, a P/E ratio of 4.36 and a beta of 2.04. Ovintiv Inc. has a 1-year low of $32.63 and a 1-year high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv’s payout ratio is currently 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.