Yaupon Capital Management LP Has $10.34 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Yaupon Capital Management LP grew its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 47.8% in the third quarter, Holdings Channel reports. The institutional investor owned 269,881 shares of the company’s stock after acquiring an additional 87,237 shares during the period. Yaupon Capital Management LP’s holdings in Ovintiv were worth $10,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. True Wealth Design LLC lifted its position in Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Ovintiv in the second quarter valued at approximately $39,000. UMB Bank n.a. boosted its position in shares of Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after buying an additional 286 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Ovintiv during the second quarter worth $69,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv in the 3rd quarter valued at $65,000. 83.81% of the stock is owned by institutional investors.

Ovintiv Trading Down 3.5 %

Shares of Ovintiv stock opened at $41.17 on Friday. The stock has a market capitalization of $10.72 billion, a P/E ratio of 5.46 and a beta of 2.63. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. 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 stock’s 50-day simple moving average is $42.26 and its 200 day simple moving average is $43.94.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. Ovintiv’s dividend payout ratio is 15.92%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Scotiabank lifted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Morgan Stanley cut their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Truist Financial boosted their target price on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company decreased their price target on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.65.

Ovintiv Company 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.