Mitsubishi UFJ Trust & Banking Corp increased its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,541 shares of the company's stock after purchasing an additional 49,648 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of Ovintiv worth $15,229,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock worth $1,193,272,000 after buying an additional 451,947 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after acquiring an additional 1,207,610 shares during the last quarter. Geode Capital Management LLC lifted its position in Ovintiv by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock worth $173,296,000 after acquiring an additional 205,409 shares during the period. Bank of New York Mellon Corp grew its stake in Ovintiv by 0.3% during 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 purchasing an additional 8,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $77,508,000 after purchasing an additional 45,147 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.
Ovintiv Price Performance
Shares of NYSE:OVV traded up $0.72 during midday trading on Monday, reaching $42.94. 3,055,300 shares of the company's stock traded hands, compared to its average volume of 3,066,297. The company has a fifty day simple moving average of $42.59 and a two-hundred day simple moving average of $41.93. Ovintiv Inc. has a 1 year low of $36.62 and a 1 year high of $55.95. The company has a market cap of $11.18 billion, a P/E ratio of 5.69 and a beta of 2.55. 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 company 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, March 14th. Ovintiv's payout ratio is 28.57%.
Wall Street Analyst Weigh In
A number of research firms recently commented on OVV. Scotiabank raised Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Truist Financial lifted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Mizuho decreased their target price on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company increased their price target on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv presently has an average rating of "Buy" and a consensus target price of $57.17.
Get Our Latest Research Report on OVV
About Ovintiv
(
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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