Dynamic Technology Lab Private Ltd boosted its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,279 shares of the company's stock after purchasing an additional 9,748 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Ovintiv were worth $1,672,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Ninepoint Partners LP boosted its position in shares of Ovintiv by 16.9% in the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock worth $9,112,000 after buying an additional 32,500 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ovintiv by 16.0% in the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock valued at $11,527,000 after purchasing an additional 37,341 shares in the last quarter. Westpac Banking Corp grew its position in shares of Ovintiv by 64.8% in the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after purchasing an additional 12,340 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Ovintiv by 4.4% during the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock worth $12,288,000 after purchasing an additional 13,536 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ovintiv by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after purchasing an additional 45,147 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
Ovintiv Trading Down 12.4 %
Shares of OVV stock traded down $4.48 during mid-day trading on Thursday, reaching $31.49. The company's stock had a trading volume of 2,561,831 shares, compared to its average volume of 3,143,230. The company's 50 day simple moving average is $41.09 and its 200-day simple moving average is $41.70. 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 12-month low of $29.80 and a 12-month high of $55.95. The firm has a market capitalization of $8.20 billion, a PE ratio of 4.19 and a beta of 2.04.
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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv's dividend payout ratio is presently 28.57%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on OVV shares. Truist Financial increased their target price on Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and upped their target price for the company from $55.00 to $57.00 in a report on Monday, March 24th. Morgan Stanley reiterated an "overweight" rating and set a $57.00 price target on shares of Ovintiv in a report on Wednesday, March 26th. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and cut their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. Finally, Scotiabank raised Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $57.17.
Check Out Our Latest Stock Analysis on OVV
Ovintiv Profile
(
Free Report)
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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