Amundi Acquires 294,197 Shares of Ovintiv Inc. (NYSE:OVV)

Amundi boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 32.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,197,807 shares of the company's stock after purchasing an additional 294,197 shares during the quarter. Amundi owned about 0.46% of Ovintiv worth $50,823,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OVV. True Wealth Design LLC grew its position in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after purchasing an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after buying an additional 335 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Ovintiv by 3,571.4% in the 4th 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 last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Ovintiv by 4,132.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock worth $53,000 after acquiring an additional 1,281 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OVV has been the subject of a number of recent research reports. National Bankshares raised their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. UBS Group lowered their price objective on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Mizuho reduced their target price on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Barclays upped their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.94.

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Ovintiv Price Performance

OVV opened at $39.80 on Thursday. The business has a fifty day moving average of $42.96 and a 200 day moving average of $41.89. The stock has a market cap of $10.36 billion, a P/E ratio of 5.28 and a beta of 2.55. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95.

Ovintiv Dividend Announcement

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

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