Bryce Point Capital LLC bought a new position in Ovintiv Inc. (NYSE:OVV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,045 shares of the company's stock, valued at approximately $488,000.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock worth $1,193,272,000 after purchasing an additional 451,947 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ovintiv by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock worth $173,296,000 after buying an additional 205,409 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after buying an additional 3,203,087 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 acquiring an additional 8,168 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after acquiring an additional 45,147 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on OVV. 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. Morgan Stanley restated an "overweight" rating and set a $57.00 target price on shares of Ovintiv in a report on Wednesday, March 26th. Williams Trading set a $58.00 price target on Ovintiv in a report on Wednesday, March 5th. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their target price on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $57.17.
Check Out Our Latest Stock Analysis on OVV
Ovintiv Stock Performance
Shares of NYSE OVV traded down $4.35 during mid-day trading on Thursday, hitting $31.62. The stock had a trading volume of 2,081,385 shares, compared to its average volume of 3,141,252. The firm has a market cap of $8.23 billion, a PE ratio of 4.19 and a beta of 2.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50 day moving average of $41.09 and a two-hundred day moving average of $41.70. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $55.95.
Ovintiv Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.80%. Ovintiv's payout ratio is 28.57%.
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.
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