Manning & Napier Advisors LLC Has $1.63 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Manning & Napier Advisors LLC decreased its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 37.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,287 shares of the company's stock after selling 24,241 shares during the period. Manning & Napier Advisors LLC's holdings in Ovintiv were worth $1,632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OVV. True Wealth Design LLC raised its position in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake 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 acquiring an additional 360 shares during the last quarter. UMB Bank n.a. grew its holdings in Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after buying an additional 286 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv during the third quarter valued at $65,000. Finally, Covestor Ltd grew its holdings in shares of Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company's stock worth $70,000 after buying an additional 560 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OVV has been the subject of several research analyst reports. UBS Group dropped their price target on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Mizuho reduced their target price on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Siebert Williams Shank upgraded Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. Bank of America raised shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Finally, Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ovintiv currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.88.

Ovintiv Price Performance

Ovintiv stock traded down $0.15 during midday trading on Monday, hitting $42.07. The company's stock had a trading volume of 2,041,438 shares, compared to its average volume of 2,462,456. The stock's 50-day moving average price is $42.45 and its 200-day moving average price is $42.22. The company has a market capitalization of $10.95 billion, a PE ratio of 5.59 and a beta of 2.63. 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 Inc. has a 12 month low of $36.90 and a 12 month high of $55.95.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.76. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company earned $1.74 EPS. Analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, December 13th. Ovintiv's dividend payout ratio (DPR) is 15.92%.

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.