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

iA Global Asset Management Inc. bought a new stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,185 shares of the company's stock, valued at approximately $412,000.

A number of other hedge funds also recently bought and sold shares of OVV. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after buying an additional 1,207,610 shares during the period. Geode Capital Management LLC boosted its position in Ovintiv by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock worth $173,296,000 after purchasing an additional 205,409 shares during the period. Bank of New York Mellon Corp grew its stake in Ovintiv by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company's stock valued at $118,530,000 after buying an additional 8,168 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ovintiv by 2.4% in the fourth 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 period. Finally, Pacific Heights Asset Management LLC lifted its holdings in shares of Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock worth $61,358,000 after buying an additional 1,325,000 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Morgan Stanley restated an "overweight" rating and set a $57.00 target price on shares of Ovintiv in a research report on Wednesday. National Bankshares upped their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. 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. According to MarketBeat, Ovintiv presently has an average rating of "Buy" and a consensus price target of $57.17.

Ovintiv Price Performance

OVV traded down $0.65 during trading on Thursday, hitting $43.32. 2,777,699 shares of the stock traded hands, compared to its average volume of 2,956,285. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 5.74 and a beta of 2.55. The business has a 50 day moving average price of $42.71 and a 200 day moving average price of $41.86.

Ovintiv Dividend Announcement

The business also recently declared 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. This represents a $1.20 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

Ovintiv Company 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.