Ovintiv Inc. (NYSE:OVV) Shares Purchased by Xponance Inc.

Xponance Inc. raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 5.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 43,124 shares of the company’s stock after buying an additional 2,224 shares during the period. Xponance Inc.’s holdings in Ovintiv were worth $1,747,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its stake in Ovintiv by 11.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 165,220 shares of the company’s stock valued at $6,691,000 after buying an additional 16,836 shares during the period. Counterpoint Mutual Funds LLC grew its stake in shares of Ovintiv by 33.1% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 8,221 shares of the company’s stock worth $333,000 after purchasing an additional 2,046 shares during the last quarter. Gallacher Capital Management LLC grew its stake in shares of Ovintiv by 18.2% in the 4th quarter. Gallacher Capital Management LLC now owns 12,562 shares of the company’s stock worth $509,000 after purchasing an additional 1,937 shares during the last quarter. Ninepoint Partners LP grew its stake in shares of Ovintiv by 16.9% in the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock worth $9,112,000 after purchasing an additional 32,500 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Ovintiv in the 4th quarter worth approximately $215,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

OVV stock opened at $41.52 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. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 5.51 and a beta of 2.55. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. The firm has a 50 day moving average of $42.80 and a two-hundred day moving average of $41.80.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio is 28.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OVV shares. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday. Truist Financial boosted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and cut their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. National Bankshares boosted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price target on shares of Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $56.78.

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.