Dean Investment Associates LLC Reduces Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Dean Investment Associates LLC lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 89.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,241 shares of the company's stock after selling 66,487 shares during the period. Dean Investment Associates LLC's holdings in Ovintiv were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares during the period. Smartleaf Asset Management LLC raised its stake in Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Mizuho Bank Ltd. purchased a new position in shares of Ovintiv in the fourth quarter worth about $40,000. Cullen Frost Bankers Inc. lifted its stake in Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted 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 worth $46,000 after buying an additional 940 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OVV has been the subject of several analyst reports. Truist Financial increased their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Williams Trading set a $58.00 price target on shares of Ovintiv in a research report on Wednesday, March 5th. National Bankshares boosted their target price on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their target price on Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv has an average rating of "Buy" and an average target price of $56.12.

Ovintiv Stock Performance

NYSE OVV traded down $0.22 on Wednesday, hitting $33.36. 1,210,619 shares of the company's stock were exchanged, compared to its average volume of 3,158,961. The firm's 50-day moving average price is $39.22 and its two-hundred day moving average price is $41.25. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 4.42 and a beta of 2.04. 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.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued 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 3.60%. Ovintiv's dividend payout ratio is presently 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.