Ovintiv Inc. (NYSE:OVV) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,058 shares of the company’s stock after selling 1,267 shares during the period. Maryland State Retirement & Pension System’s holdings in Ovintiv were worth $569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacific Heights Asset Management LLC increased its stake in shares of Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock valued at $61,358,000 after acquiring an additional 1,325,000 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after purchasing an additional 1,207,610 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Ovintiv by 1,807.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock worth $32,070,000 after buying an additional 750,349 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Ovintiv by 2,105.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock worth $12,763,000 after buying an additional 318,041 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Ovintiv by 32.6% in the fourth quarter. Amundi now owns 1,197,807 shares of the company’s stock valued at $50,823,000 after buying an additional 294,197 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Up 3.8 %

Shares of Ovintiv stock opened at $43.05 on Tuesday. The stock has a 50-day simple moving average of $42.77 and a 200-day simple moving average of $41.82. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 5.71 and a beta of 2.55. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

OVV has been the topic of several research reports. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Barclays increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. National Bankshares lifted 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. UBS Group cut their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Finally, Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.79.

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.