Vanguard Group Inc. Has $1.19 Billion Position in Ovintiv Inc. (NYSE:OVV)

Vanguard Group Inc. grew its position in Ovintiv Inc. (NYSE:OVV) by 1.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,463,495 shares of the company’s stock after purchasing an additional 451,947 shares during the period. Vanguard Group Inc. owned about 11.32% of Ovintiv worth $1,193,272,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in OVV. True Wealth Design LLC boosted its position in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 purchasing an additional 940 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 1.5 %

Ovintiv stock opened at $43.32 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. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The company has a fifty day simple moving average of $42.66 and a 200 day simple moving average of $41.87. The company has a market cap of $11.28 billion, a P/E ratio of 5.74 and a beta of 2.55.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend yield of 2.77%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Mizuho lowered their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company raised their price target on shares of Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Finally, UBS Group lowered their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $57.17.

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.