JPMorgan Chase & Co. grew its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,524,743 shares of the company's stock after acquiring an additional 352,368 shares during the quarter. JPMorgan Chase & Co. owned about 0.59% of Ovintiv worth $61,752,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Ninepoint Partners LP raised its stake in Ovintiv by 16.9% during the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock valued at $9,112,000 after buying an additional 32,500 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Ovintiv by 16.0% in the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock valued at $11,527,000 after acquiring an additional 37,341 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Ovintiv by 4.4% in the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock worth $12,288,000 after buying an additional 13,536 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Ovintiv by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock valued at $77,508,000 after buying an additional 45,147 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ovintiv by 19.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company's stock valued at $8,768,000 after buying an additional 34,207 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.
Ovintiv Price Performance
NYSE:OVV traded up $4.83 during trading hours on Wednesday, reaching $36.01. The stock had a trading volume of 6,331,766 shares, compared to its average volume of 3,145,048. The stock has a market capitalization of $9.38 billion, a PE ratio of 4.78 and a beta of 2.04. Ovintiv Inc. has a 52 week low of $29.76 and a 52 week high of $55.95. The company has a 50 day moving average price of $41.09 and a two-hundred day moving average price of $41.70. 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, March 14th. Ovintiv's payout ratio is 28.57%.
Analyst Upgrades and Downgrades
OVV has been the topic of several analyst reports. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Truist Financial boosted their price target on Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Williams Trading set a $58.00 price objective on Ovintiv in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Barclays lifted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of "Buy" and a consensus price target of $57.17.
Read Our Latest Analysis on Ovintiv
Ovintiv Profile
(
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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