Sanctuary Advisors LLC Buys 3,663 Shares of Ovintiv Inc. (NYSE:OVV)

Sanctuary Advisors LLC lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,654 shares of the company’s stock after acquiring an additional 3,663 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ovintiv were worth $599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in shares of Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv during the 3rd quarter valued at approximately $65,000. Covestor Ltd raised its position in shares of 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 during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after buying an additional 282 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Up 0.7 %

NYSE:OVV opened at $43.47 on Friday. The company has a market capitalization of $11.32 billion, a P/E ratio of 5.77 and a beta of 2.60. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The firm has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $42.13.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. Ovintiv’s dividend payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

OVV has been the subject of a number of research analyst reports. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Citigroup reduced their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. UBS Group decreased their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. National Bankshares raised their target price 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 decreased their price target on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.88.

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.