Prudential Financial Inc. grew its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,814 shares of the company's stock after acquiring an additional 23,904 shares during the quarter. Prudential Financial Inc. owned about 0.08% of Ovintiv worth $7,930,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Pacific Heights Asset Management LLC grew its stake in Ovintiv by 697.4% in the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock valued at $61,358,000 after purchasing an additional 1,325,000 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after buying an additional 1,207,610 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Ovintiv by 1,807.9% during the 4th 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 in the last quarter. Teacher Retirement System of Texas lifted 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 during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock worth $1,193,272,000 after purchasing an additional 451,947 shares in the last quarter. 83.81% of the stock is owned by institutional investors.
Ovintiv Price Performance
OVV stock traded down $5.08 during trading on Thursday, hitting $39.07. The stock had a trading volume of 5,239,551 shares, compared to its average volume of 3,067,608. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The company's 50-day moving average price is $42.35 and its two-hundred day moving average price is $41.99. 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 has a market capitalization of $10.17 billion, a P/E ratio of 5.18 and a beta of 2.04.
Ovintiv Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, March 14th. Ovintiv's payout ratio is 28.57%.
Analyst Ratings Changes
OVV has been the subject of several recent analyst reports. Scotiabank raised Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Barclays increased their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. National Bankshares boosted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Bank of America raised shares of Ovintiv from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Finally, BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $57.17.
View Our Latest Stock Report on Ovintiv
About Ovintiv
(
Free Report)
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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