AlphaQuest LLC reduced its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 41.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,694 shares of the company's stock after selling 17,415 shares during the period. AlphaQuest LLC's holdings in Ovintiv were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of Ovintiv by 0.4% during 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 during the period. Drive Wealth Management LLC raised its holdings in shares of Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company's stock valued at $395,000 after purchasing an additional 251 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Ovintiv by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company's stock valued at $304,000 after purchasing an additional 280 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock valued at $97,000 after purchasing an additional 282 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of Ovintiv by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company's stock valued at $231,000 after purchasing an additional 298 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Ovintiv Stock Up 3.0 %
NYSE:OVV traded up $1.12 during mid-day trading on Tuesday, hitting $38.96. The stock had a trading volume of 4,210,070 shares, compared to its average volume of 2,843,208. The stock has a 50-day simple moving average of $42.97 and a two-hundred day simple moving average of $41.91. The company has a market capitalization of $10.14 billion, a PE ratio of 5.17 and a beta of 2.55. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. 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 Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.08%. Ovintiv's dividend payout ratio is currently 28.57%.
Wall Street Analyst Weigh In
OVV has been the subject of several recent research reports. National Bankshares boosted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and reduced their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. Williams Trading set a $58.00 price target on shares of Ovintiv in a report on Wednesday, March 5th. Truist Financial boosted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.94.
Read Our Latest Stock Analysis on Ovintiv
Ovintiv Profile
(
Free Report)
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.
Further Reading
Before you consider Ovintiv, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ovintiv wasn't on the list.
While Ovintiv currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
