Ovintiv Inc. (NYSE:OVV) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 744,700 shares of the company's stock after selling 47,700 shares during the period. Swiss National Bank owned about 0.29% of Ovintiv worth $30,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. True Wealth Design LLC grew its position in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after buying an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock valued at $46,000 after purchasing an additional 940 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

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Ovintiv Trading Down 1.4 %

Ovintiv stock traded down $0.60 during trading on Friday, reaching $41.52. 22,228,100 shares of the company were exchanged, compared to its average volume of 2,970,119. 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's 50 day simple moving average is $42.84 and its two-hundred day simple moving average is $41.80. The company has a market capitalization of $10.81 billion, a P/E ratio of 5.51 and a beta of 2.55. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays raised 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. Bank of America raised shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their price target for the company from $55.00 to $54.00 in a research note on Monday, January 13th. National Bankshares boosted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Truist Financial increased their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, UBS Group cut their target price on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.78.

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.