Ovintiv Inc. (NYSE:OVV) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in Ovintiv Inc. (NYSE:OVV) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 89,690 shares of the company’s stock after purchasing an additional 4,272 shares during the period. Pictet Asset Management Holding SA’s holdings in Ovintiv were worth $3,632,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Ovintiv by 100.8% in 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 period. Smartleaf Asset Management LLC grew its stake in shares of Ovintiv by 71.3% in 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 period. 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 during the period. EverSource Wealth Advisors LLC raised its position in shares of Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after buying an additional 940 shares during the period. Finally, SRS Capital Advisors Inc. raised its position in shares of Ovintiv by 4,132.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock valued at $53,000 after buying an additional 1,281 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 15.8 %

Shares of Ovintiv stock opened at $32.89 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52-week low of $32.63 and a 52-week high of $55.95. The company has a market capitalization of $8.57 billion, a P/E ratio of 4.36 and a beta of 2.04. The company has a 50 day moving average of $42.11 and a 200 day moving average of $41.94.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.65%. Ovintiv’s payout ratio is currently 28.57%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays raised their target price on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Wells Fargo & Company upped their target price on shares of Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $57.00 in a research note on Monday, March 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Ovintiv in a research report on Wednesday, March 26th. Two research 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $57.17.

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.