Summit Investment Advisors Inc. Has $3.23 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Summit Investment Advisors Inc. boosted its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 47.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,642 shares of the company's stock after buying an additional 25,469 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Ovintiv were worth $3,226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OVV. Arrowstreet Capital Limited Partnership boosted its position in shares of Ovintiv by 1,732.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Pacific Heights Asset Management LLC boosted its holdings in Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock worth $61,358,000 after buying an additional 1,325,000 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Ovintiv by 1,807.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock worth $32,070,000 after buying an additional 750,349 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Ovintiv by 180.0% in the fourth quarter. Teacher Retirement System of Texas now owns 744,905 shares of the company's stock valued at $30,169,000 after buying an additional 478,846 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Ovintiv by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock valued at $1,193,272,000 after acquiring an additional 451,947 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OVV has been the topic of a number of recent analyst reports. Barclays boosted their target price on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" 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 reduced their price objective for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research report on Wednesday, March 5th. National Bankshares upped their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $50.00 price objective on shares of Ovintiv in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $56.06.

Ovintiv Stock Up 2.2 %

NYSE:OVV traded up $0.71 during trading hours on Friday, reaching $33.81. The company's stock had a trading volume of 3,098,442 shares, compared to its average volume of 3,164,873. 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 company has a market cap of $8.81 billion, a price-to-earnings ratio of 4.48 and a beta of 2.04. Ovintiv Inc. has a one year low of $29.80 and a one year high of $53.57. The business's 50-day moving average is $39.61 and its 200-day moving average is $41.39.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, March 14th. Ovintiv's payout ratio is 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.