Ovintiv Inc. (NYSE:OVV) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 39.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,931 shares of the company's stock after buying an additional 12,473 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Ovintiv were worth $1,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Mizuho Bank Ltd. purchased a new position in shares of Ovintiv during the fourth quarter valued at approximately $40,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Ovintiv by 3,571.4% during 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 lifted its holdings 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 last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Price Performance

NYSE OVV traded up $0.17 on Friday, hitting $34.70. The company had a trading volume of 2,328,351 shares, compared to its average volume of 3,187,066. The company has a market capitalization of $9.04 billion, a PE ratio of 4.60 and a beta of 2.04. The company's fifty day moving average price is $38.62 and its 200-day moving average price is $41.06. 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 12-month low of $29.80 and a 12-month high of $53.57.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.46%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

OVV has been the subject of several recent research reports. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $55.00 to $57.00 in a report on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Barclays lowered their price objective on Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday. Williams Trading set a $58.00 price objective on Ovintiv in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their price objective on Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Two 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.com, Ovintiv currently has a consensus rating of "Buy" and an average price target of $55.76.

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.