AdvisorShares Investments LLC Purchases Shares of 12,230 Ovintiv Inc. (NYSE:OVV)

AdvisorShares Investments LLC bought a new position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,230 shares of the company's stock, valued at approximately $495,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings 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 purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its stake in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares during the period. Optiver Holding B.V. bought a new stake in shares of Ovintiv in the fourth quarter worth about $40,000. Mizuho Bank Ltd. acquired a new stake in shares of Ovintiv during the fourth quarter worth about $40,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Ovintiv by 3,571.4% during the 4th 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 in the last quarter. Institutional investors own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of OVV stock traded up $1.14 on Friday, reaching $35.52. The company had a trading volume of 4,070,733 shares, compared to its average volume of 3,199,524. The stock has a market capitalization of $9.25 billion, a PE ratio of 4.71 and a beta of 2.04. 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 business's 50-day moving average is $37.81 and its 200 day moving average is $40.85. Ovintiv Inc. has a one year low of $29.80 and a one year high of $52.90.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.38%. Ovintiv's dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OVV. 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. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Barclays lowered their price objective on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. National Bankshares lifted their target price on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Ovintiv has an average rating of "Buy" and an average price target of $55.76.

Ovintiv 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.