Ovintiv Inc. $OVV Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 49.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,270 shares of the company’s stock after buying an additional 17,072 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ovintiv were worth $2,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OVV. Lido Advisors LLC raised its position in shares of Ovintiv by 3.4% during the third quarter. Lido Advisors LLC now owns 44,552 shares of the company’s stock worth $2,576,000 after purchasing an additional 1,463 shares during the period. M&G PLC lifted its holdings in shares of Ovintiv by 11.3% in the 3rd quarter. M&G PLC now owns 273,303 shares of the company’s stock worth $15,852,000 after purchasing an additional 27,747 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Ovintiv in the 3rd quarter worth $543,000. Brighton Jones LLC grew its position in Ovintiv by 7.8% in the 3rd quarter. Brighton Jones LLC now owns 17,041 shares of the company’s stock valued at $985,000 after purchasing an additional 1,228 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in Ovintiv in the 3rd quarter valued at $513,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on OVV shares. Barclays upped their price objective on shares of Ovintiv from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup raised their price objective on shares of Ovintiv from $68.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. Roth Capital boosted their target price on shares of Ovintiv from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, UBS Group reissued a “buy” rating and set a $85.00 target price on shares of Ovintiv in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and a consensus price target of $74.86.

Ovintiv Stock Performance

Shares of OVV stock traded up $0.52 during trading on Friday, hitting $65.41. The company’s stock had a trading volume of 3,167,334 shares, compared to its average volume of 3,423,048. The company has a market cap of $17.58 billion, a PE ratio of 13.19 and a beta of 0.57. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $64.53 and a 200-day moving average of $58.56. Ovintiv Inc. has a 52 week low of $36.81 and a 52 week high of $73.61.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, December 15th. Ovintiv’s dividend payout ratio is 24.19%.

Ovintiv Profile

Ovintiv Inc. is an independent oil and natural gas producer focused on developing and producing crude oil, natural gas and natural gas liquids in North America. Its operations include exploration, drilling and production, supported by infrastructure and marketing activities related to its energy products. The company’s principal operating areas include the Permian Basin and Anadarko Basin in the United States, as well as the Montney formation in Canada. Its production serves energy markets through sales of oil, natural gas and natural gas liquids.