Yaupon Capital Management LP raised its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 246.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 934,442 shares of the company's stock after buying an additional 664,561 shares during the period. Ovintiv comprises about 1.6% of Yaupon Capital Management LP's investment portfolio, making the stock its 10th biggest position. Yaupon Capital Management LP owned 0.36% of Ovintiv worth $37,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in OVV. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 buying an additional 360 shares during the period. Smartleaf Asset Management LLC grew its position in Ovintiv by 71.3% during the 4th 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 last quarter. Mizuho Bank Ltd. purchased a new position in Ovintiv in the 4th quarter worth approximately $40,000. Cullen Frost Bankers Inc. lifted 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 valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Ovintiv by 451.9% during the fourth 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 during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Morgan Stanley reiterated an "overweight" rating and set a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, National Bankshares increased 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. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $55.76.
Read Our Latest Report on OVV
Ovintiv Price Performance
Shares of OVV stock traded up $0.17 on Friday, hitting $34.70. 2,328,351 shares of the stock traded hands, compared to its average volume of 3,178,874. 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 52 week low of $29.80 and a 52 week high of $53.57. The firm has a 50 day simple moving average of $38.81 and a two-hundred day simple moving average of $41.13. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 4.60 and a beta of 2.04.
Ovintiv Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.46%. The ex-dividend date was 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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