10,185 Shares in Ovintiv Inc. (NYSE:OVV) Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. purchased a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,185 shares of the company's stock, valued at approximately $412,000.

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock valued at $2,647,000 after acquiring an additional 231 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock valued at $97,000 after purchasing an additional 282 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Ovintiv by 5.2% in the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company's stock valued at $231,000 after purchasing an additional 298 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock worth $830,000 after purchasing an additional 300 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Ovintiv by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 20,385 shares of the company's stock worth $781,000 after buying an additional 322 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank raised Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Citigroup lowered their price objective on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. National Bankshares upped their target price 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. Truist Financial lifted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $55.00 to $57.00 in a report on Monday. Four 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.79.

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Ovintiv Stock Up 1.8 %

NYSE OVV traded up $0.76 during trading hours on Tuesday, reaching $43.77. 1,430,336 shares of the company's stock were exchanged, compared to its average volume of 2,960,136. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 5.81 and a beta of 2.55. The company's 50-day moving average is $42.77 and its two-hundred day moving average is $41.82. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. Ovintiv's 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.