Ovintiv Inc. (NYSE:OVV) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,562,238 shares of the company's stock after purchasing an additional 683,700 shares during the quarter. Dimensional Fund Advisors LP owned 2.14% of Ovintiv worth $225,265,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Ovintiv by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock valued at $2,647,000 after buying an additional 231 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Ovintiv by 2.8% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company's stock worth $412,000 after acquiring an additional 276 shares in the last quarter. Fifth Third Bancorp raised its position in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after acquiring an additional 282 shares during the period. Daiwa Securities Group Inc. raised its position in Ovintiv by 1.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock worth $830,000 after acquiring an additional 300 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Ovintiv by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 70,053 shares of the company's stock valued at $2,837,000 after purchasing an additional 310 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Up 0.2 %

NYSE:OVV traded up $0.09 during trading hours on Monday, reaching $34.76. 304,830 shares of the stock were exchanged, compared to its average volume of 3,175,662. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $53.57. 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 has a 50-day moving average of $38.62 and a two-hundred day moving average of $41.06. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 4.60 and a beta of 2.04.

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. This represents a $1.20 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, March 14th. Ovintiv's dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

Several research firms recently issued reports on OVV. BMO Capital Markets upgraded Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Williams Trading set a $58.00 price target on Ovintiv in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and reduced their target price for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Finally, National Bankshares boosted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two investment 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $55.76.

About Ovintiv

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.