Claro Advisors LLC Takes Position in Ovintiv Inc. (NYSE:OVV)

Claro Advisors LLC purchased a new position in Ovintiv Inc. (NYSE:OVV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,662 shares of the company's stock, valued at approximately $229,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock valued at $250,687,000 after buying an additional 6,486,159 shares in the last quarter. AQR Capital Management LLC grew its position in Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company's stock valued at $141,889,000 after acquiring an additional 1,618,556 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Ovintiv by 7,422.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company's stock worth $52,064,000 after acquiring an additional 1,340,947 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after acquiring an additional 1,207,610 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Ovintiv by 42.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock valued at $44,991,000 after purchasing an additional 350,909 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Ovintiv Trading Up 0.4 %

Shares of NYSE:OVV traded up $0.17 on Thursday, hitting $45.91. The company had a trading volume of 3,004,392 shares, compared to its average volume of 2,765,259. The firm's 50-day simple moving average is $42.29 and its two-hundred day simple moving average is $42.50. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 6.09 and a beta of 2.63. 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 1 year low of $36.90 and a 1 year high of $55.95.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Ovintiv's dividend payout ratio (DPR) is 15.92%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OVV. Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on Ovintiv from $48.00 to $42.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Barclays boosted their target price on Ovintiv from $53.00 to $57.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. UBS Group reduced 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. Finally, Evercore ISI lowered their price objective on Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ovintiv currently has a consensus rating of "Moderate Buy" and an average price target of $56.81.

Ovintiv 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.