Dimensional Fund Advisors LP Raises Stake in Ovintiv Inc. (NYSE:OVV)

Dimensional Fund Advisors LP lifted its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,562,238 shares of the company's stock after acquiring an additional 683,700 shares during the period. Dimensional Fund Advisors LP owned 2.14% of Ovintiv worth $225,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OVV. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Smartleaf Asset Management LLC lifted its position 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. Mizuho Bank Ltd. purchased a new position in Ovintiv during the fourth quarter worth about $40,000. Cullen Frost Bankers Inc. increased its position in shares of Ovintiv by 3,571.4% during 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 during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after acquiring an additional 940 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $33.54 on Wednesday. The stock's 50-day simple moving average is $39.22 and its 200-day simple moving average is $41.25. The firm has a market capitalization of $8.73 billion, a PE ratio of 4.45 and a beta of 2.04. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $53.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.58%. Ovintiv's payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OVV shares. JPMorgan Chase & Co. lowered their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Scotiabank raised Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. Barclays lifted their target price on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target on shares of 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. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $56.12.

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.

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