Ovintiv Inc. (NYSE:OVV) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in Ovintiv Inc. (NYSE:OVV) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,913,774 shares of the company’s stock after purchasing an additional 45,147 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.74% of Ovintiv worth $77,508,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OVV. Pacer Advisors Inc. grew its position in shares of Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after purchasing an additional 6,486,159 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after purchasing an additional 1,207,610 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Ovintiv by 1,807.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock valued at $32,070,000 after purchasing an additional 750,349 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after purchasing an additional 350,909 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its position in shares of Ovintiv by 2,105.0% in the third quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock valued at $12,763,000 after purchasing an additional 318,041 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on OVV shares. Wells Fargo & Company lowered 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 report on Tuesday, December 17th. Truist Financial upped their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Bank of America raised 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 research note on Monday, January 13th. Barclays upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.94.

Ovintiv Price Performance

Ovintiv stock opened at $37.89 on Tuesday. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The firm has a fifty day moving average of $43.00 and a 200-day moving average of $41.94. The firm has a market capitalization of $9.86 billion, a P/E ratio of 5.02 and a beta of 2.55. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s payout ratio is currently 28.57%.

About Ovintiv

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.