Schroder Investment Management Group Increases Stock Position in Ovintiv Inc. (NYSE:OVV)

Schroder Investment Management Group boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,498 shares of the company's stock after purchasing an additional 23,340 shares during the quarter. Schroder Investment Management Group owned about 0.16% of Ovintiv worth $16,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock worth $1,193,272,000 after acquiring an additional 451,947 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ovintiv by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock worth $173,296,000 after purchasing an additional 205,409 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Ovintiv by 1,732.9% during the 4th 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 last quarter. Bank of New York Mellon Corp raised its holdings 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 buying an additional 8,168 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ovintiv by 2.4% during the 4th 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. 83.81% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Ovintiv Stock Performance

OVV traded down $1.56 during trading on Tuesday, reaching $31.15. 6,064,987 shares of the company's stock were exchanged, compared to its average volume of 3,131,011. The company's fifty day simple moving average is $41.37 and its 200-day simple moving average is $41.78. The stock has a market capitalization of $8.11 billion, a P/E ratio of 4.13 and a beta of 2.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 1 year low of $30.40 and a 1 year high of $55.95.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.85%. Ovintiv's payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OVV. Truist Financial raised their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Wells Fargo & Company upped their target price on Ovintiv from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. decreased their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Finally, National Bankshares boosted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of "Buy" and an average target price of $57.17.

Ovintiv Profile

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.