B. Metzler seel. Sohn & Co. Holding AG Makes New $215,000 Investment in Ovintiv Inc. (NYSE:OVV)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Ovintiv Inc. (NYSE:OVV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,624 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Smead Capital Management Inc. raised its position in shares of 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 purchasing an additional 212,535 shares during the period. Pathstone Holdings LLC raised its position in shares of Ovintiv by 82.2% in the third quarter. Pathstone Holdings LLC now owns 41,645 shares of the company’s stock valued at $1,595,000 after purchasing an additional 18,783 shares during the period. Drive Wealth Management LLC raised its position in shares of Ovintiv by 2.5% in the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $395,000 after purchasing an additional 251 shares during the period. Quest Partners LLC raised its position in shares of Ovintiv by 449.3% in the third quarter. Quest Partners LLC now owns 42,109 shares of the company’s stock valued at $1,613,000 after purchasing an additional 34,443 shares during the period. Finally, Prudent Man Advisors LLC bought a new stake in shares of Ovintiv in the third quarter valued at approximately $500,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several research reports. Citigroup lowered their price target on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Truist Financial upped their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Mizuho decreased their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. UBS Group upped their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Ovintiv Price Performance

Shares of Ovintiv stock opened at $45.76 on Tuesday. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 6.07 and a beta of 2.62. The company has a fifty day moving average of $41.51 and a 200-day moving average of $44.16. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. Ovintiv’s dividend payout ratio (DPR) is 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.