NFJ Investment Group LLC grew its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 803,060 shares of the company's stock after acquiring an additional 11,233 shares during the quarter. Ovintiv comprises approximately 1.0% of NFJ Investment Group LLC's investment portfolio, making the stock its 21st biggest position. NFJ Investment Group LLC owned about 0.31% of Ovintiv worth $32,524,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of OVV. Arrowstreet Capital Limited Partnership grew its holdings in shares of Ovintiv by 1,732.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after purchasing an additional 3,203,087 shares during the period. Pacific Heights Asset Management LLC boosted its holdings in Ovintiv by 697.4% in the 4th quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock valued at $61,358,000 after purchasing an additional 1,325,000 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Ovintiv by 1,807.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock valued at $32,070,000 after buying an additional 750,349 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Ovintiv by 180.0% during the 4th quarter. Teacher Retirement System of Texas now owns 744,905 shares of the company's stock worth $30,169,000 after buying an additional 478,846 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Ovintiv by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock valued at $1,193,272,000 after buying an additional 451,947 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on OVV. Barclays increased their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Williams Trading set a $58.00 price objective on Ovintiv in a research report on Wednesday, March 5th. Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares increased their target price 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. Finally, Morgan Stanley reissued an "overweight" rating and issued a $50.00 price target on shares of Ovintiv in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Ovintiv currently has a consensus rating of "Buy" and a consensus price target of $56.06.
Read Our Latest Analysis on OVV
Ovintiv Stock Up 2.2 %
Shares of Ovintiv stock traded up $0.71 during trading hours on Friday, reaching $33.81. 3,098,442 shares of the company were exchanged, compared to its average volume of 3,164,873. The firm has a market cap of $8.81 billion, a PE ratio of 4.48 and a beta of 2.04. The stock's fifty day moving average is $39.61 and its 200 day moving average is $41.39. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $53.57. 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 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv's dividend payout ratio is currently 28.57%.
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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