Ovintiv Inc. (NYSE:OVV) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,913,774 shares of the company's stock after buying an additional 45,147 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.74% of Ovintiv worth $77,508,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OVV. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after buying an additional 1,207,610 shares during the period. Pacer Advisors Inc. increased its holdings in Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock worth $250,687,000 after purchasing an additional 6,486,159 shares during the period. Smead Capital Management Inc. increased its holdings in Ovintiv by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock worth $241,476,000 after purchasing an additional 212,535 shares during the period. Geode Capital Management LLC increased its holdings 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 purchasing an additional 205,409 shares during the period. Finally, Bank of New York Mellon Corp increased 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 worth $118,530,000 after purchasing an additional 8,168 shares during the period. 83.81% of the stock is owned by institutional investors.

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Ovintiv Stock Down 2.6 %

Shares of Ovintiv stock traded down $1.03 during trading on Thursday, reaching $38.72. The company's stock had a trading volume of 3,370,865 shares, compared to its average volume of 2,874,595. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 5.13 and a beta of 2.55. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The company has a 50-day simple moving average of $42.90 and a two-hundred day simple moving average of $41.87.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.10%. Ovintiv's dividend payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

Several research firms have commented on OVV. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Citigroup reduced their price objective on Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Truist Financial lifted their price target on Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, National Bankshares lifted their price target on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.61.

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.