Kapitalo Investimentos Ltda Invests $643,000 in Ovintiv Inc. (NYSE:OVV)

Kapitalo Investimentos Ltda acquired a new position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,871 shares of the company's stock, valued at approximately $643,000. Ovintiv makes up about 0.4% of Kapitalo Investimentos Ltda's portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in shares of Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock worth $2,647,000 after purchasing an additional 231 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Ovintiv by 2.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock worth $412,000 after acquiring an additional 276 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after acquiring an additional 282 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Ovintiv by 1.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock valued at $830,000 after acquiring an additional 300 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Ovintiv by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock worth $2,837,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $55.00 to $57.00 in a research report on Monday, March 24th. National Bankshares lifted their target price on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company increased their target price on Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Ovintiv presently has a consensus rating of "Buy" and an average target price of $55.76.

Ovintiv Price Performance

Shares of OVV stock traded up $1.14 on Friday, hitting $35.52. 4,070,733 shares of the stock traded hands, compared to its average volume of 3,199,524. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $52.90. The firm has a 50 day simple moving average of $37.68 and a two-hundred day simple moving average of $40.82. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 4.71 and a beta of 2.04.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.38%. Ovintiv's payout ratio is 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.