Thrivent Financial for Lutherans Has $6.69 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Thrivent Financial for Lutherans grew its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,220 shares of the company's stock after buying an additional 16,836 shares during the period. Thrivent Financial for Lutherans owned 0.06% of Ovintiv worth $6,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ninepoint Partners LP increased its position in Ovintiv by 16.9% in the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock valued at $9,112,000 after acquiring an additional 32,500 shares during the period. Franklin Resources Inc. increased its holdings in shares of Ovintiv by 16.0% during the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock valued at $11,527,000 after purchasing an additional 37,341 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock valued at $12,288,000 after purchasing an additional 13,536 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ovintiv by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock valued at $77,508,000 after purchasing an additional 45,147 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Ovintiv in the fourth quarter worth about $333,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on OVV shares. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. 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. JPMorgan Chase & Co. dropped their target price on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Citigroup decreased their price target on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Finally, Barclays lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Four 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $56.79.

Ovintiv Stock Up 1.3 %

Shares of Ovintiv stock traded up $0.57 during midday trading on Tuesday, hitting $43.58. The company's stock had a trading volume of 1,276,829 shares, compared to its average volume of 2,960,136. The firm has a market capitalization of $11.35 billion, a P/E ratio of 5.78 and a beta of 2.55. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $42.77 and a 200-day simple moving average of $41.82.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.75%. Ovintiv's dividend payout ratio is 28.57%.

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.