Ovintiv Inc. (NYSE:OVV) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,926,669 shares of the company’s stock after acquiring an additional 8,168 shares during the quarter. Bank of New York Mellon Corp owned about 1.12% of Ovintiv worth $118,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Ovintiv in the 3rd quarter worth $65,000. Covestor Ltd lifted its holdings in Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after buying an additional 560 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of a number of recent analyst reports. National Bankshares boosted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank boosted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Barclays boosted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, UBS Group cut their target price on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average price target of $56.88.

Ovintiv Trading Up 0.7 %

Shares of NYSE:OVV opened at $43.47 on Friday. The company has a 50 day moving average of $43.03 and a 200-day moving average of $42.13. The firm has a market cap of $11.32 billion, a P/E ratio of 5.77 and a beta of 2.60. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 28.57%.

Ovintiv Company 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.