American Century Companies Inc. Buys 48,308 Shares of Ovintiv Inc. (NYSE:OVV)

American Century Companies Inc. increased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 11.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 488,182 shares of the company’s stock after buying an additional 48,308 shares during the period. American Century Companies Inc. owned 0.19% of Ovintiv worth $19,771,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of OVV. Nisa Investment Advisors LLC boosted its holdings in shares of Ovintiv by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock worth $2,647,000 after acquiring an additional 231 shares during the period. Fifth Third Bancorp boosted its stake in 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 purchasing an additional 282 shares during the period. Daiwa Securities Group Inc. grew its holdings in Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock valued at $830,000 after buying an additional 300 shares in the last quarter. Stifel Financial Corp grew its holdings in Ovintiv by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock valued at $781,000 after buying an additional 322 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the company from $55.00 to $54.00 in a research note on Monday, January 13th. UBS Group decreased their target price on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Scotiabank upgraded Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.17.

Ovintiv Price Performance

Shares of NYSE OVV opened at $42.24 on Monday. The company has a market capitalization of $11.00 billion, a PE ratio of 5.60 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 Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The firm has a fifty day simple moving average of $42.59 and a 200 day simple moving average of $41.93.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

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.