American Century Companies Inc. Boosts Position in Ovintiv Inc. (NYSE:OVV)

American Century Companies Inc. boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 488,182 shares of the company's stock after acquiring an additional 48,308 shares during the quarter. American Century Companies Inc. owned 0.19% of Ovintiv worth $19,771,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. iA Global Asset Management Inc. purchased a new stake in shares of Ovintiv during the fourth quarter valued at $412,000. Teacher Retirement System of Texas boosted its position in Ovintiv by 180.0% in the 4th quarter. Teacher Retirement System of Texas now owns 744,905 shares of the company's stock valued at $30,169,000 after buying an additional 478,846 shares during the period. Vinva Investment Management Ltd grew its stake in Ovintiv by 76.6% in the 4th quarter. Vinva Investment Management Ltd now owns 9,728 shares of the company's stock worth $387,000 after acquiring an additional 4,219 shares in the last quarter. Xponance Inc. grew its stake in Ovintiv by 5.4% in the 4th quarter. Xponance Inc. now owns 43,124 shares of the company's stock worth $1,747,000 after acquiring an additional 2,224 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Ovintiv by 11.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 165,220 shares of the company's stock worth $6,691,000 after acquiring an additional 16,836 shares during the period. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho dropped their price objective on Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. UBS Group dropped their price target on Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Barclays raised their price target on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. National Bankshares upped their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $57.17.

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Ovintiv Stock Down 11.5 %

Shares of Ovintiv stock traded down $5.08 during trading on Thursday, reaching $39.07. The company's stock had a trading volume of 5,239,551 shares, compared to its average volume of 3,067,608. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The company has a 50-day simple moving average of $42.35 and a two-hundred day simple moving average of $41.99. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 5.18 and a beta of 2.04.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. Ovintiv's payout ratio is 28.57%.

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.