58,545 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 58,545 shares of the company’s stock, valued at approximately $2,371,000.

Other large investors have also modified their holdings of the company. True Wealth Design LLC boosted its stake in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after buying an additional 335 shares during the period. Cullen Frost Bankers Inc. grew 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 worth $42,000 after buying an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after acquiring an additional 940 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. National Bankshares lifted their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group lowered their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley reissued an “overweight” rating and set a $57.00 price target on shares of Ovintiv in a report on Wednesday. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $57.17.

Ovintiv Price Performance

Shares of NYSE OVV opened at $42.24 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 5.60 and a beta of 2.55. The company’s 50-day moving average price is $42.59 and its 200 day moving average price is $41.90. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week high of $55.95.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. Ovintiv’s dividend payout ratio is currently 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.