Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 51.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,547 shares of the company's stock after selling 147,843 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Ovintiv worth $5,652,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Ovintiv by 7.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 29,959 shares of the company's stock valued at $1,148,000 after acquiring an additional 2,051 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Ovintiv by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,762 shares of the company's stock worth $19,337,000 after acquiring an additional 5,055 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock worth $44,991,000 after acquiring an additional 350,909 shares in the last quarter. KBC Group NV boosted its stake in Ovintiv by 8.9% during the 3rd quarter. KBC Group NV now owns 333,207 shares of the company's stock valued at $12,765,000 after acquiring an additional 27,338 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company's stock worth $231,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
Ovintiv Price Performance
Ovintiv stock traded down $0.30 during midday trading on Tuesday, hitting $40.79. The company's stock had a trading volume of 2,757,454 shares, compared to its average volume of 2,898,273. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month 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 company has a market capitalization of $10.62 billion, a PE ratio of 5.41 and a beta of 2.55. The stock's 50-day moving average price is $42.87 and its 200-day moving average price is $41.81.
Ovintiv Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, March 14th. Ovintiv's dividend payout ratio is presently 28.57%.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Barclays increased their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Scotiabank upped their price target on Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a research report on Monday, November 18th. UBS Group decreased their price objective on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a report on Monday, December 9th. Williams Trading set a $58.00 target price on shares of Ovintiv in a report on Wednesday, March 5th. Finally, Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.61.
View Our Latest Research Report on Ovintiv
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.
See Also
Before you consider Ovintiv, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ovintiv wasn't on the list.
While Ovintiv currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
