Quadrant Capital Group LLC Buys 847 Shares of Ovintiv Inc. (NYSE:OVV)

Quadrant Capital Group LLC boosted its stake in Ovintiv Inc. (NYSE:OVV) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,902 shares of the company’s stock after acquiring an additional 847 shares during the period. Quadrant Capital Group LLC’s holdings in Ovintiv were worth $339,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE boosted its holdings in Ovintiv by 3.2% in the second quarter. US Bancorp DE now owns 9,332 shares of the company’s stock valued at $355,000 after acquiring an additional 286 shares during the last quarter. Montgomery Investment Management Inc. boosted its holdings in shares of Ovintiv by 1.0% during the 2nd quarter. Montgomery Investment Management Inc. now owns 30,294 shares of the company’s stock worth $1,153,000 after buying an additional 300 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in shares of Ovintiv by 0.9% during the 1st quarter. Harvest Portfolios Group Inc. now owns 34,546 shares of the company’s stock worth $1,246,000 after buying an additional 322 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Ovintiv by 62.5% during the 1st quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock worth $34,000 after buying an additional 358 shares in the last quarter. Finally, Commerce Bank boosted its holdings in shares of Ovintiv by 2.7% during the 1st quarter. Commerce Bank now owns 15,314 shares of the company’s stock worth $553,000 after buying an additional 403 shares in the last quarter. 98.30% of the stock is currently owned by institutional investors.

Ovintiv Trading Up 2.6 %

NYSE OVV opened at $45.00 on Friday. Ovintiv Inc. has a 12 month low of $32.07 and a 12 month high of $57.13. The business has a fifty day simple moving average of $47.26 and a 200 day simple moving average of $42.79. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $12.28 billion, a P/E ratio of 4.46, a PEG ratio of 0.51 and a beta of 2.74.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 2.67%. Ovintiv’s dividend payout ratio is currently 11.90%.

Analyst Upgrades and Downgrades

OVV has been the topic of a number of research analyst reports. Bank of America increased their price target on Ovintiv from $62.00 to $66.00 in a report on Wednesday, September 27th. Citigroup upped their target price on Ovintiv from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. Royal Bank of Canada upped their target price on Ovintiv from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 10th. Wells Fargo & Company upped their target price on Ovintiv from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Finally, Scotiabank upped their target price on Ovintiv from $49.00 to $53.00 and gave the stock a “sector perform” rating in a research report on Monday, October 16th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.50.

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. 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.