Ovintiv Inc. (NYSE:OVV) Shares Sold by Aviva PLC

Aviva PLC reduced its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 579,197 shares of the company's stock after selling 11,673 shares during the period. Aviva PLC owned about 0.22% of Ovintiv worth $23,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OVV. Ninepoint Partners LP boosted its stake in Ovintiv by 16.9% in the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock valued at $9,112,000 after acquiring an additional 32,500 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ovintiv by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock valued at $11,527,000 after purchasing an additional 37,341 shares during the last quarter. Westpac Banking Corp boosted its position in shares of Ovintiv by 64.8% in the 4th quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after purchasing an additional 12,340 shares during the period. Retirement Systems of Alabama grew its stake in Ovintiv by 4.4% during the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock worth $12,288,000 after buying an additional 13,536 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Ovintiv by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $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.

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Wall Street Analyst Weigh In

OVV has been the subject of several research analyst reports. Barclays increased their price objective on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Truist Financial upped their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. National Bankshares raised their price target on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Mizuho dropped their price target on Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $57.17.

Ovintiv Price Performance

Shares of NYSE:OVV traded up $0.29 on Friday, reaching $32.01. 1,545,402 shares of the company were exchanged, compared to its average volume of 3,146,857. The company has a 50-day moving average of $40.89 and a 200-day moving average of $41.64. 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 firm has a market cap of $8.34 billion, a price-to-earnings ratio of 4.22 and a beta of 2.04. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $55.77.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.75%. 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.