Ovintiv Inc. (NYSE:OVV) Shares Purchased by Barclays PLC

Barclays PLC grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 489,259 shares of the company's stock after purchasing an additional 20,262 shares during the quarter. Barclays PLC owned approximately 0.19% of Ovintiv worth $19,814,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OVV. Arrowstreet Capital Limited Partnership increased its position in shares of Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock worth $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Pacific Heights Asset Management LLC grew its holdings in Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock worth $61,358,000 after acquiring an additional 1,325,000 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Ovintiv by 1,807.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock worth $32,070,000 after acquiring an additional 750,349 shares during the period. Teacher Retirement System of Texas raised its position in Ovintiv by 180.0% during the fourth quarter. Teacher Retirement System of Texas now owns 744,905 shares of the company's stock valued at $30,169,000 after acquiring an additional 478,846 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock valued at $1,193,272,000 after acquiring an additional 451,947 shares during the period. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OVV. Truist Financial raised their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $57.00 in a report on Monday, March 24th. 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. JPMorgan Chase & Co. cut 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. Finally, Barclays lowered their price target on Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Ovintiv presently has a consensus rating of "Buy" and an average price target of $55.76.

Ovintiv Price Performance

OVV traded up $0.48 on Friday, reaching $35.01. 776,255 shares of the company's stock were exchanged, compared to its average volume of 3,437,494. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $53.57. The stock has a market cap of $9.12 billion, a PE ratio of 4.64 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. The stock's fifty day moving average price is $38.81 and its 200-day moving average price is $41.13.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

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.