Ovintiv Inc. (NYSE:OVV) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,499 shares of the company's stock after selling 9,376 shares during the quarter. Comerica Bank's holdings in Ovintiv were worth $5,204,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OVV. Kapitalo Investimentos Ltda acquired a new position in Ovintiv during the 4th quarter worth $643,000. AQR Capital Management LLC grew its position in shares of Ovintiv by 69.7% during the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock worth $132,992,000 after buying an additional 1,348,221 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Ovintiv during the fourth quarter worth about $495,000. Northern Trust Corp increased its stake in shares of Ovintiv by 23.7% during the fourth quarter. Northern Trust Corp now owns 2,612,740 shares of the company's stock worth $105,816,000 after buying an additional 501,156 shares during the period. Finally, Optiver Holding B.V. acquired a new stake in Ovintiv in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

OVV has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Ovintiv in a research report on Tuesday, April 15th. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. National Bankshares upped their price target on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $55.76.

Ovintiv Price Performance

Shares of NYSE OVV opened at $34.41 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $8.96 billion, a PE ratio of 4.56 and a beta of 1.14. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $52.90. The business's fifty day moving average price is $37.53 and its two-hundred day moving average price is $40.77.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.49%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

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.

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