Thrivent Financial for Lutherans Boosts Position in Ovintiv Inc. (NYSE:OVV)

Thrivent Financial for Lutherans lifted its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,220 shares of the company's stock after purchasing an additional 16,836 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of Ovintiv worth $6,691,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacific Heights Asset Management LLC lifted its position in shares of Ovintiv by 697.4% during the 4th quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock valued at $61,358,000 after acquiring an additional 1,325,000 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in Ovintiv by 17.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after purchasing an additional 1,207,610 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Ovintiv by 1,807.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock worth $32,070,000 after purchasing an additional 750,349 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Ovintiv by 2,105.0% in the third quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company's stock valued at $12,763,000 after purchasing an additional 318,041 shares during the last quarter. Finally, Amundi increased its position in shares of Ovintiv by 32.6% in the fourth quarter. Amundi now owns 1,197,807 shares of the company's stock valued at $50,823,000 after buying an additional 294,197 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

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Ovintiv Trading Down 1.5 %

NYSE:OVV traded down $0.65 during trading hours on Thursday, reaching $43.32. 2,777,699 shares of the company were exchanged, compared to its average volume of 2,956,285. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 5.74 and a beta of 2.55. The stock has a 50 day simple moving average of $42.71 and a 200 day simple moving average of $41.86. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv's payout ratio is currently 28.57%.

Analyst Ratings Changes

OVV has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $57.00 price objective on shares of Ovintiv in a research report on Wednesday. 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 report on Thursday, January 30th. Barclays raised their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and reduced their target price for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Ovintiv presently has a consensus rating of "Buy" and a consensus 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.