Kovitz Investment Group Partners LLC Invests $3.13 Million in Ovintiv Inc. (NYSE:OVV)

Kovitz Investment Group Partners LLC acquired a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,282 shares of the company's stock, valued at approximately $3,130,000.

A number of other institutional investors have also recently made changes to their positions in OVV. MassMutual Private Wealth & Trust FSB boosted its position 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 buying an additional 360 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after purchasing an additional 335 shares during the period. Mizuho Bank Ltd. acquired a new position in Ovintiv during the 4th quarter worth $40,000. Cullen Frost Bankers Inc. increased 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 purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock worth $46,000 after purchasing an additional 940 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Trading Up 0.5 %

OVV opened at $34.70 on Monday. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 4.60 and a beta of 2.04. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $53.57. The business's 50 day moving average is $38.62 and its two-hundred day moving average is $41.06. 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.46%. Ovintiv's dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Morgan Stanley restated an "overweight" rating and issued a $50.00 price objective on shares of Ovintiv in a report on Tuesday, April 15th. Barclays lowered their target price on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Williams Trading set a $58.00 price target on Ovintiv in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $55.76.

About Ovintiv

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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