Sei Investments Co. Has $9.63 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Sei Investments Co. boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 419.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 237,693 shares of the company’s stock after purchasing an additional 191,929 shares during the period. Sei Investments Co. owned 0.09% of Ovintiv worth $9,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of 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 purchasing an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 2.5 %

NYSE OVV opened at $42.24 on Monday. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The stock has a market cap of $11.00 billion, a PE ratio of 5.60 and a beta of 2.55. The firm has a 50-day simple moving average of $42.59 and a 200 day simple moving average of $41.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, March 14th. Ovintiv’s payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group cut their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Truist Financial raised their price objective on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho decreased their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. National Bankshares lifted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company upped their price objective on shares of Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv currently has an average rating of “Buy” and an average target price of $57.17.

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.