Ovintiv Inc. (NYSE:OVV) Stock Holdings Lessened by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,444 shares of the company's stock after selling 8,172 shares during the period. Corient Private Wealth LLC's holdings in Ovintiv were worth $2,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OVV. True Wealth Design LLC grew its holdings in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after acquiring an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after buying an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after buying an additional 940 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

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Ovintiv Price Performance

Shares of OVV traded down $0.65 during midday trading on Thursday, reaching $43.32. The stock had a trading volume of 2,777,699 shares, compared to its average volume of 2,956,285. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $11.28 billion, a P/E ratio of 5.74 and a beta of 2.55. The firm's 50 day moving average price is $42.71 and its 200-day moving average price is $41.86. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week high of $55.95.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 2.77%. The ex-dividend date is Friday, March 14th. Ovintiv's payout ratio is 28.57%.

Analysts Set New Price Targets

OVV has been the subject of several research reports. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares increased their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Mizuho decreased their price target on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Finally, Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $57.17.

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.