Thrivent Financial for Lutherans Increases Holdings in Ovintiv Inc. (NYSE:OVV)

Thrivent Financial for Lutherans increased its stake in Ovintiv Inc. (NYSE:OVV) by 11.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 165,220 shares of the company’s stock after buying an additional 16,836 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ovintiv were worth $6,691,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in OVV. True Wealth Design LLC boosted its stake 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 acquiring an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised 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 purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after purchasing an additional 335 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Ovintiv by 3,571.4% in the fourth 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 during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Ovintiv by 451.9% during the fourth 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 period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

OVV stock opened at $41.52 on Monday. The firm has a 50 day simple moving average of $42.80 and a two-hundred day simple moving average of $41.80. The stock has a market cap of $10.81 billion, a PE ratio of 5.51 and a beta of 2.55. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv Announces Dividend

The company 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 $0.30 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. Ovintiv’s dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

OVV has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and cut their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Citigroup lowered their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. 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 report on Monday, December 16th. Finally, Barclays boosted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.78.

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.