Ovintiv Inc. (NYSE:OVV) Shares Sold by Fmr LLC

Fmr LLC decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,426,482 shares of the company’s stock after selling 2,811,117 shares during the quarter. Fmr LLC owned 6.69% of Ovintiv worth $705,773,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised 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 acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC increased 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 purchasing an additional 335 shares in the last quarter. Mizuho Bank Ltd. acquired a new position in shares of Ovintiv in the 4th quarter valued at $40,000. Cullen Frost Bankers Inc. boosted its holdings in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after buying an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted 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 worth $46,000 after buying an additional 940 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on OVV. Mizuho cut their price target 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. Wells Fargo & Company boosted their target price on shares of Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. National Bankshares raised their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Finally, Truist Financial raised their target price on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $57.17.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $31.15 on Wednesday. The firm’s fifty day simple moving average is $41.37 and its 200-day simple moving average is $41.78. Ovintiv Inc. has a 12 month low of $30.40 and a 12 month high of $55.95. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 4.13 and a beta of 2.04. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 3.85%. 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.