Ovintiv Inc. (NYSE:OVV) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of Ovintiv Inc. (NYSE:OVV) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,393 shares of the company’s stock after acquiring an additional 2,797 shares during the period. Natixis Advisors LLC’s holdings in Ovintiv were worth $1,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in Ovintiv by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after buying an additional 231 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after acquiring an additional 282 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Ovintiv by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock valued at $830,000 after acquiring an additional 300 shares in the last quarter. Stifel Financial Corp lifted its stake in Ovintiv by 1.6% during the third quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock worth $781,000 after purchasing an additional 322 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after purchasing an additional 335 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OVV shares. Williams Trading set a $58.00 target price on shares of Ovintiv in a report on Wednesday, March 5th. Barclays raised their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lowered their target price on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Citigroup cut their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $57.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.79.

Ovintiv Stock Performance

NYSE:OVV opened at $43.05 on Tuesday. The company has a 50-day moving average of $42.77 and a 200-day moving average of $41.82. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 5.71 and a beta of 2.55. 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 twelve month low of $36.62 and a twelve month high of $55.95.

Ovintiv Announces Dividend

The firm 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 $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.79%. Ovintiv’s dividend payout ratio (DPR) is 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.