Ovintiv Inc. (NYSE:OVV) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. raised its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 451,875 shares of the company's stock after buying an additional 59,142 shares during the quarter. Alliancebernstein L.P. owned about 0.17% of Ovintiv worth $18,301,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock worth $46,000 after purchasing an additional 940 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in Ovintiv by 4,132.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock valued at $53,000 after purchasing an additional 1,281 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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Ovintiv Stock Performance

NYSE OVV traded up $1.05 during trading hours on Friday, hitting $32.77. The company had a trading volume of 4,427,024 shares, compared to its average volume of 3,159,567. The business has a 50 day moving average of $40.67 and a 200-day moving average of $41.60. The company has a market cap of $8.53 billion, a PE ratio of 4.35 and a beta of 2.04. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $55.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.30 per share. 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 3.66%. Ovintiv's dividend payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OVV shares. National Bankshares lifted their price objective on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Williams Trading set a $58.00 price target on Ovintiv in a research report on Wednesday, March 5th. Wells Fargo & Company upped their price objective on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Barclays boosted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Ovintiv has a consensus rating of "Buy" and a consensus price target of $57.17.

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.