Ovintiv Inc. (NYSE:OVV) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,003 shares of the company’s stock after selling 500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Ovintiv were worth $2,147,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OVV. True Wealth Design LLC boosted its stake in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake 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 buying an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new position in Ovintiv during the third quarter valued at about $65,000. Covestor Ltd boosted its stake in Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after buying an additional 282 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Performance

Shares of NYSE OVV opened at $43.19 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $42.92 and a 200 day simple moving average of $42.13. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 5.73 and a beta of 2.60.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.78%. Ovintiv’s dividend payout ratio is currently 15.92%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OVV shares. Wells Fargo & Company decreased their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. National Bankshares boosted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Citigroup dropped their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Scotiabank upped their target price on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus price target of $56.88.

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.