Ovintiv Inc. (NYSE:OVV) Position Trimmed by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 12.5% during the fourth quarter, according to the company in 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 quarter. Corient Private Wealth LLC's holdings in Ovintiv were worth $2,326,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC grew its holdings in Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after buying an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of 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 in the last quarter. Cullen Frost Bankers Inc. grew its position 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 acquiring an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after purchasing an additional 940 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on OVV. Mizuho dropped their price objective on Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Citigroup dropped their target price on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Truist Financial increased their price target 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. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $55.00 to $57.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Ovintiv presently has an average rating of "Moderate Buy" and an average target price of $56.79.

Ovintiv Stock Performance

Ovintiv stock traded up $0.57 during mid-day trading on Tuesday, hitting $43.58. 1,276,829 shares of the company's stock traded hands, compared to its average volume of 2,960,136. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95. The company has a market cap of $11.35 billion, a PE ratio of 5.78 and a beta of 2.55. The firm has a 50 day moving average price of $42.77 and a 200 day moving average price of $41.82. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.75%. Ovintiv's payout ratio is 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.