Michael Burry Stock Portfolio: 5 Newest Additions in 2021

4. Ovintiv Inc. (NYSE:OVV)

Scion Asset Management’s Stake Value as of Q2: $18,882,000
Percent of Scion Asset Management’s 13F Portfolio: 0.9%
Number of Hedge Fund Holders: 40

Ovintiv Inc. (NYSE:OVV), a Canada-based natural gas company, ranks fourth on our list of the newest stocks in Michael Burry’s portfolio. Neal Dingmann of Truist sees a potential upside in the company, driven by the generation of free cash flow in the coming quarters. The firm lifted its price target on Ovintiv Inc. (NYSE:OVV) to $50, while keeping a Buy rating on the shares.

The number of hedge funds tracked by Insider Monkey having stakes in Ovintiv Inc. (NYSE:OVV) grew to 40 in Q2 2021, from 30 in the previous quarter. The total value of these stakes is $739.2 million. On July 27, Ovintiv Inc. (NYSE:OVV) announced a 49% increase in its quarterly dividend at $0.14 per share, yielding 2.06%.

Scion Asset Management bought 600,000 shares of Ovintiv Inc. (NYSE:OVV) in Q2, valued at $18.8 million. The company represents 0.9% of the hedge fund’s 13F portfolio.