Symmetry Partners LLC Takes $204,000 Position in Ovintiv Inc. (NYSE:OVV)

Symmetry Partners LLC bought a new stake in shares of Ovintiv Inc. (NYSE:OVV – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The fund bought 4,028 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors have also recently made changes to their positions in the company. Ronald Blue Trust Inc. purchased a new position in shares of Ovintiv during the 2nd quarter valued at approximately $31,000. Rosenberg Matthew Hamilton increased its holdings in shares of Ovintiv by 26.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 950 shares of the company’s stock valued at $44,000 after purchasing an additional 200 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Ovintiv during the 3rd quarter valued at approximately $58,000. Raleigh Capital Management Inc. purchased a new position in shares of Ovintiv during the 2nd quarter valued at approximately $69,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Ovintiv during the 1st quarter valued at approximately $88,000. 76.76% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Down 2.9 %

Shares of OVV opened at $34.08 on Friday. The firm’s fifty day moving average is $45.81 and its two-hundred day moving average is $49.36. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.41. The stock has a market cap of $8.30 billion, a PE ratio of 2.40, a price-to-earnings-growth ratio of 0.19 and a beta of 2.79. Ovintiv Inc. has a 52-week low of $32.26 and a 52-week high of $63.30.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.93%. Ovintiv’s payout ratio is 7.04%.

Analysts Set New Price Targets

OVV has been the topic of a number of research analyst reports. Citigroup dropped their price target on shares of Ovintiv from $66.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, February 13th. Siebert Williams Shank initiated coverage on shares of Ovintiv in a research note on Friday, December 9th. They issued a “buy” rating and a $75.00 price target on the stock. Morgan Stanley cut shares of Ovintiv from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $60.00 to $51.00 in a research note on Tuesday, January 24th. Royal Bank of Canada dropped their price target on shares of Ovintiv from $58.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 1st. Finally, Barclays dropped their price target on shares of Ovintiv from $60.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Insider Activity

In other news, Director Howard John Mayson sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $45.62, for a total transaction of $136,860.00. Following the transaction, the director now owns 21,403 shares of the company’s stock, valued at approximately $976,404.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Ovintiv Company Profile

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Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.