Ovintiv Inc. (NYSE:OVV) Shares Bought by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 4,132.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312 shares of the company’s stock after buying an additional 1,281 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Ovintiv were worth $53,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its position in Ovintiv by 17.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after acquiring an additional 1,207,610 shares during the period. Pacer Advisors Inc. raised its position in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after purchasing an additional 6,486,159 shares during the last quarter. Smead Capital Management Inc. lifted its stake in Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after buying an additional 212,535 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ovintiv by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock worth $173,296,000 after buying an additional 205,409 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Ovintiv by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock worth $118,530,000 after buying an additional 8,168 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OVV shares. Wells Fargo & Company reduced their target price on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Truist Financial raised their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. National Bankshares upped their price target on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Mizuho reduced their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and dropped their target price for the company from $55.00 to $54.00 in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Price Performance

Shares of OVV opened at $38.01 on Friday. The firm has a 50-day simple moving average of $43.04 and a two-hundred day simple moving average of $42.02. The stock has a market cap of $9.89 billion, a PE ratio of 5.04 and a beta of 2.55. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s payout ratio is 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.