Victory Capital Management Inc. Has $56.32 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Victory Capital Management Inc. grew its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 18.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,390,498 shares of the company's stock after acquiring an additional 216,101 shares during the period. Victory Capital Management Inc. owned about 0.53% of Ovintiv worth $56,315,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. lifted 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 last quarter. Smead Capital Management Inc. lifted its stake in Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock valued at $241,476,000 after buying an additional 212,535 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Ovintiv by 4.4% in the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock worth $12,288,000 after buying an additional 13,536 shares during the period. Entropy Technologies LP boosted its holdings in shares of Ovintiv by 319.9% in the third quarter. Entropy Technologies LP now owns 149,457 shares of the company's stock worth $5,726,000 after buying an additional 113,866 shares during the period. Finally, KBC Group NV increased its position in shares of Ovintiv by 8.9% in the third quarter. KBC Group NV now owns 333,207 shares of the company's stock worth $12,765,000 after acquiring an additional 27,338 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

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Ovintiv Stock Up 3.0 %

NYSE:OVV traded up $1.12 during trading hours on Tuesday, reaching $38.96. The company's stock had a trading volume of 4,210,065 shares, compared to its average volume of 2,843,075. 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 $10.14 billion, a price-to-earnings ratio of 5.17 and a beta of 2.55. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95. The business's 50-day moving average is $43.00 and its 200-day moving average is $41.94.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.08%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OVV shares. Scotiabank raised their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a research note on Monday, November 18th. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Citigroup reduced their price objective on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. National Bankshares raised their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on Ovintiv from $48.00 to $42.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.94.

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.