Wealthfront Advisers LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,658 shares of the company's stock, valued at approximately $351,000.
Other large investors have also made changes to their positions in the company. True Wealth Design LLC grew its position in shares of Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after purchasing an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after acquiring an additional 360 shares during the period. Smartleaf Asset Management LLC grew its position in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its position in Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after acquiring an additional 1,000 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in Ovintiv by 4,132.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock worth $53,000 after acquiring an additional 1,281 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on OVV shares. Williams Trading set a $58.00 price objective on Ovintiv in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday. UBS Group lowered their price objective on Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Barclays increased their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. decreased their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.78.
Read Our Latest Stock Analysis on OVV
Ovintiv Stock Down 0.4 %
Shares of NYSE OVV traded down $0.18 during mid-day trading on Thursday, hitting $42.18. The company had a trading volume of 3,455,374 shares, compared to its average volume of 2,896,129. The company has a market capitalization of $10.98 billion, a PE ratio of 5.59 and a beta of 2.55. 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 Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The business's 50-day simple moving average is $42.85 and its 200 day simple moving average is $41.80.
Ovintiv Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. Ovintiv's payout ratio is currently 28.57%.
About Ovintiv
(
Free Report)
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.
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