Ovintiv Inc. (NYSE:OVV) Holdings Raised by Covestor Ltd

Covestor Ltd raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 45.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,667 shares of the company’s stock after buying an additional 832 shares during the period. Covestor Ltd’s holdings in Ovintiv were worth $108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after buying an additional 335 shares during the last quarter. Mizuho Bank Ltd. bought a new stake in shares of Ovintiv in the 4th quarter valued at approximately $40,000. Cullen Frost Bankers Inc. grew its stake in shares of Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after buying an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Ovintiv by 451.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after buying an additional 940 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on OVV. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Morgan Stanley reiterated an “overweight” rating and issued a $57.00 price objective on shares of Ovintiv in a report on Wednesday, March 26th. Williams Trading set a $58.00 target price on Ovintiv in a report on Wednesday, March 5th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Ovintiv currently has an average rating of “Buy” and a consensus target price of $56.47.

Ovintiv Stock Up 3.3 %

Shares of OVV opened at $32.77 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50-day simple moving average of $40.67 and a 200-day simple moving average of $41.60. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $55.77. The firm has a market capitalization of $8.53 billion, a P/E ratio of 4.35 and a beta of 2.04.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.66%. 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.