BI Asset Management Fondsmaeglerselskab A S raised its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 39.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 43,931 shares of the company's stock after acquiring an additional 12,473 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Ovintiv were worth $1,779,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock valued at $1,193,272,000 after buying an additional 451,947 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ovintiv by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company's stock worth $225,265,000 after purchasing an additional 683,700 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock worth $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ovintiv by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company's stock valued at $118,530,000 after purchasing an additional 8,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock valued at $77,508,000 after buying an additional 45,147 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Williams Trading set a $58.00 price objective on 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 report on Thursday, January 30th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Ovintiv currently has an average rating of "Buy" and an average target price of $55.76.
Check Out Our Latest Research Report on Ovintiv
Ovintiv Stock Up 0.5 %
Ovintiv stock traded up $0.17 during midday trading on Friday, hitting $34.70. 2,328,351 shares of the company were exchanged, compared to its average volume of 3,172,478. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $53.57. The company's fifty day moving average price is $38.81 and its 200-day moving average price is $41.13. The company has a market cap of $9.04 billion, a PE ratio of 4.60 and a beta of 2.04.
Ovintiv Announces Dividend
The company 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. This represents a $1.20 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, March 14th. Ovintiv's dividend payout ratio is currently 28.57%.
About Ovintiv
(
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.
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