Hsbc Holdings PLC lessened its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 226,455 shares of the company's stock after selling 137,541 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Ovintiv worth $9,167,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 period. Smartleaf Asset Management LLC boosted its holdings in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares in the last quarter. Mizuho Bank Ltd. bought a new stake in shares of Ovintiv during the fourth quarter worth about $40,000. Cullen Frost Bankers Inc. grew its holdings in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Ovintiv by 451.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after purchasing an additional 940 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Ovintiv Price Performance
OVV opened at $34.70 on Monday. The firm has a 50-day moving average price of $38.62 and a 200-day moving average price of $41.06. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 4.60 and a beta of 2.04. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $53.57. 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 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, March 14th. Ovintiv's payout ratio is currently 28.57%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on OVV shares. Williams Trading set a $58.00 target price on shares of Ovintiv in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. Finally, National Bankshares raised their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $55.76.
Check Out Our Latest Analysis on OVV
About Ovintiv
(
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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