Fisher Asset Management LLC Trims Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Fisher Asset Management LLC lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 707,351 shares of the company's stock after selling 32,659 shares during the quarter. Fisher Asset Management LLC owned about 0.27% of Ovintiv worth $28,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Ovintiv by 100.8% during the fourth 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. Transamerica Financial Advisors Inc. bought a new position in Ovintiv during the third quarter worth about $65,000. Covestor Ltd boosted its position in Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company's stock worth $70,000 after purchasing an additional 560 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock valued at $97,000 after acquiring an additional 282 shares during the period. Institutional investors own 83.81% of the company's stock.

Ovintiv Trading Down 1.0 %

NYSE OVV traded down $0.37 on Thursday, hitting $37.86. The company's stock had a trading volume of 1,546,949 shares, compared to its average volume of 2,714,046. The firm has a market cap of $9.85 billion, a P/E ratio of 5.02 and a beta of 2.55. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The company's 50-day simple moving average is $43.06 and its 200 day simple moving average is $42.05. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

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Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.17%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

A number of research firms have recently commented on OVV. Scotiabank raised their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a research report on Monday, November 18th. UBS Group cut their price objective on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Barclays raised their price objective on shares of 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 cut their price objective on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.88.

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.