Kapitalo Investimentos Ltda Makes New Investment in Ovintiv Inc. (NYSE:OVV)

Kapitalo Investimentos Ltda bought a new stake in Ovintiv Inc. (NYSE:OVV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,871 shares of the company’s stock, valued at approximately $643,000. Ovintiv accounts for 0.4% of Kapitalo Investimentos Ltda’s investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors have also modified their holdings of OVV. Arrowstreet Capital Limited Partnership lifted its holdings in Ovintiv by 1,732.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock valued at $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Ovintiv by 1,577.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company’s stock valued at $99,587,000 after buying an additional 2,312,292 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Ovintiv by 69.7% in the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company’s stock worth $132,992,000 after buying an additional 1,348,221 shares in the last quarter. Webs Creek Capital Management LP acquired a new position in Ovintiv during the fourth quarter worth about $54,086,000. Finally, Pacific Heights Asset Management LLC grew its stake in Ovintiv by 697.4% during the 4th quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock valued at $61,358,000 after acquiring an additional 1,325,000 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OVV. Truist Financial raised their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Bank of America upgraded 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 report on Monday, January 13th. Williams Trading set a $58.00 target price on Ovintiv in a report on Wednesday, March 5th. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. Finally, Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $55.76.

Ovintiv Stock Down 1.2 %

Shares of OVV opened at $34.57 on Wednesday. The stock has a market capitalization of $9.00 billion, a PE ratio of 4.58 and a beta of 2.04. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $53.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company’s 50-day simple moving average is $38.19 and its 200-day simple moving average is $40.96.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Friday, March 14th. Ovintiv’s payout ratio is currently 28.57%.

Ovintiv 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.