LPL Financial LLC Has $3.62 Million Position in Ovintiv Inc. (NYSE:OVV)

LPL Financial LLC increased its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 17.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 89,492 shares of the company's stock after purchasing an additional 13,554 shares during the period. LPL Financial LLC's holdings in Ovintiv were worth $3,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OVV. MassMutual Private Wealth & Trust FSB boosted its position in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after acquiring an additional 360 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after purchasing an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its position in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock worth $46,000 after buying an additional 940 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Ovintiv by 4,132.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock valued at $53,000 after buying an additional 1,281 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently commented on OVV. Wells Fargo & Company boosted their price target on Ovintiv from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. National Bankshares upped their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Morgan Stanley restated an "overweight" rating and issued a $50.00 price objective on shares of Ovintiv in a research note on Tuesday. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Barclays increased their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $56.06.

Ovintiv Stock Up 3.3 %

Shares of NYSE:OVV traded up $1.06 during mid-day trading on Wednesday, reaching $33.26. 286,974 shares of the stock were exchanged, compared to its average volume of 3,146,791. The company has a market cap of $8.66 billion, a P/E ratio of 4.41 and a beta of 2.04. The stock's 50 day simple moving average is $40.25 and its 200-day simple moving average is $41.52. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a one year low of $29.80 and a one year high of $53.57.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv's payout ratio is 28.57%.

About Ovintiv

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.