Ovintiv Inc. (NYSE:OVV) Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 419.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 237,693 shares of the company's stock after purchasing an additional 191,929 shares during the period. Sei Investments Co. owned about 0.09% of Ovintiv worth $9,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after purchasing an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after acquiring an additional 335 shares in the last quarter. Cullen Frost Bankers Inc. lifted 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 acquiring an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after acquiring an additional 940 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

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Ovintiv Price Performance

Shares of NYSE OVV traded down $5.08 during mid-day trading on Thursday, reaching $39.07. The company's stock had a trading volume of 5,239,551 shares, compared to its average volume of 3,067,608. The stock has a market capitalization of $10.17 billion, a P/E ratio of 5.18 and a beta of 2.04. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The stock has a 50-day moving average of $42.35 and a two-hundred day moving average of $41.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Mizuho cut their price target on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Barclays upped their target price on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $55.00 to $57.00 in a report on Monday, March 24th. Finally, Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $57.17.

Ovintiv Company 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.