Ovintiv Inc. (NYSE:OVV) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 44.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,146 shares of the company's stock after selling 19,223 shares during the quarter. Atria Investments Inc's holdings in Ovintiv were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in Ovintiv by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,390,498 shares of the company's stock worth $56,315,000 after purchasing an additional 216,101 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after purchasing an additional 45,147 shares during the period. Jones Financial Companies Lllp boosted its holdings in Ovintiv by 48.0% in the fourth quarter. Jones Financial Companies Lllp now owns 6,425 shares of the company's stock worth $260,000 after purchasing an additional 2,084 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Ovintiv by 4,132.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock worth $53,000 after purchasing an additional 1,281 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Ovintiv by 71.3% in 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. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $39.80 on Thursday. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 5.28 and a beta of 2.55. The firm has a 50-day moving average of $42.96 and a two-hundred day moving average of $41.89.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv's payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OVV shares. National Bankshares lifted 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. Wells Fargo & Company cut their target price on Ovintiv from $48.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 17th. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and cut their target price for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Barclays raised their target price on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Scotiabank raised their target price on Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and an average target price of $56.94.

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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.

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