Mutual of America Capital Management LLC Cuts Stock Position in Ovintiv Inc. (NYSE:OVV)

Mutual of America Capital Management LLC lessened its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 298,946 shares of the company's stock after selling 5,935 shares during the quarter. Mutual of America Capital Management LLC owned about 0.11% of Ovintiv worth $12,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OVV. International Assets Investment Management LLC grew its holdings in Ovintiv by 5,704.0% in the third quarter. International Assets Investment Management LLC now owns 85,087 shares of the company's stock worth $3,260,000 after purchasing an additional 83,621 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Ovintiv by 26.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,256 shares of the company's stock worth $508,000 after purchasing an additional 2,786 shares during the period. State of Alaska Department of Revenue grew its holdings in Ovintiv by 11.9% in the third quarter. State of Alaska Department of Revenue now owns 30,670 shares of the company's stock worth $1,174,000 after purchasing an additional 3,260 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Ovintiv in the third quarter worth about $237,000. Finally, New York State Teachers Retirement System grew its holdings in Ovintiv by 0.7% in the third quarter. New York State Teachers Retirement System now owns 233,819 shares of the company's stock worth $8,958,000 after purchasing an additional 1,620 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

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Ovintiv Stock Performance

OVV traded down $0.66 during trading on Wednesday, hitting $38.26. The company's stock had a trading volume of 4,814,177 shares, compared to its average volume of 2,746,297. 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 $36.62 and a one year high of $55.95. The firm has a market cap of $9.96 billion, a PE ratio of 5.07 and a beta of 2.55. The business's 50 day simple moving average is $43.06 and its 200-day simple moving average is $42.05.

Ovintiv Dividend Announcement

The firm also recently announced 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. This represents a $1.20 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is 28.57%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. National Bankshares upped 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. Barclays upped their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Scotiabank upped their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a research note on Monday, November 18th. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, Citigroup dropped their target price on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.88.

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.