Ovintiv Inc. (NYSE:OVV) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd reduced its position in shares of Ovintiv Inc. (NYSE:OVV) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,000 shares of the company’s stock after selling 2,000 shares during the period. UniSuper Management Pty Ltd’s holdings in Ovintiv were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OVV. Vanguard Group Inc. raised its stake in Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock valued at $1,193,272,000 after buying an additional 451,947 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised 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 worth $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ovintiv by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock worth $173,296,000 after purchasing an additional 205,409 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ovintiv by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock valued at $118,530,000 after purchasing an additional 8,168 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after purchasing an additional 45,147 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OVV shares. BMO Capital Markets upgraded shares of Ovintiv from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Mizuho cut their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. National Bankshares upped their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Williams Trading set a $58.00 price target on Ovintiv in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $57.17.

Ovintiv Trading Up 1.7 %

NYSE OVV opened at $42.94 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.18 billion, a P/E ratio of 5.69 and a beta of 2.55. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The firm has a 50-day moving average price of $42.53 and a 200 day moving average price of $41.96.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.79%. Ovintiv’s dividend payout ratio is currently 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.