Hartree Partners LP Purchases Shares of 114,463 Ovintiv Inc. (NYSE:OVV)

Hartree Partners LP purchased a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 114,463 shares of the company's stock, valued at approximately $4,636,000. Ovintiv comprises 1.7% of Hartree Partners LP's investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors have also made changes to their positions in OVV. True Wealth Design LLC increased its holdings in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ovintiv by 451.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after purchasing an additional 940 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

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Ovintiv Trading Down 9.9 %

NYSE:OVV traded down $4.35 during mid-day trading on Thursday, hitting $39.79. 2,044,280 shares of the company's stock were exchanged, compared to its average volume of 3,211,451. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95. The company has a 50 day simple moving average of $42.48 and a 200-day simple moving average of $42.01. The firm has a market capitalization of $10.36 billion, a P/E ratio of 5.28 and a beta of 2.55.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.02%. Ovintiv's payout ratio is 28.57%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Morgan Stanley restated an "overweight" rating and set a $57.00 target price on shares of Ovintiv in a research report on Wednesday, March 26th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. National Bankshares upped their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price objective on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $57.17.

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. 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.