Elo Mutual Pension Insurance Co Has $1.37 Million Position in Ovintiv Inc. (NYSE:OVV)

Elo Mutual Pension Insurance Co boosted its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 42.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,886 shares of the company's stock after purchasing an additional 10,178 shares during the period. Elo Mutual Pension Insurance Co's holdings in Ovintiv were worth $1,372,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ovintiv by 19.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company's stock valued at $8,768,000 after acquiring an additional 34,207 shares in the last quarter. Financial Engines Advisors L.L.C. grew its stake in Ovintiv by 10.8% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 19,933 shares of the company's stock valued at $807,000 after purchasing an additional 1,945 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Ovintiv by 15.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 375,541 shares of the company's stock worth $15,229,000 after purchasing an additional 49,648 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Ovintiv by 2.8% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock worth $412,000 after purchasing an additional 276 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Ovintiv by 13.9% during the 4th quarter. Prudential Financial Inc. now owns 195,814 shares of the company's stock valued at $7,930,000 after buying an additional 23,904 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price objective on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Williams Trading set a $58.00 price target on shares of Ovintiv in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Scotiabank raised Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Two equities research 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 stock. According to data from MarketBeat.com, Ovintiv currently has an average rating of "Buy" and an average price target of $57.17.

Ovintiv Stock Performance

Shares of OVV traded down $6.16 during mid-day trading on Friday, hitting $32.89. The company's stock had a trading volume of 8,051,281 shares, compared to its average volume of 3,090,628. The stock's 50-day moving average is $42.11 and its two-hundred day moving average is $41.94. The firm has a market capitalization of $8.57 billion, a PE ratio of 4.36 and a beta of 2.04. 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 Inc. has a one year low of $32.66 and a one year high of $55.95.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.65%. Ovintiv's dividend payout ratio is 28.57%.

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.