HighTower Advisors LLC Raises Stock Position in Ovintiv Inc. (NYSE:OVV)

HighTower Advisors LLC lifted its position in Ovintiv Inc. (NYSE:OVV) by 4.7% in the fourth quarter, Holdings Channel reports. The firm owned 16,175 shares of the company’s stock after buying an additional 719 shares during the period. HighTower Advisors LLC’s holdings in Ovintiv were worth $655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OVV. True Wealth Design LLC lifted its holdings in shares of Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake 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 during the period. Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Ovintiv by 4,132.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock valued at $53,000 after purchasing an additional 1,281 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 2.5 %

OVV stock opened at $42.24 on Friday. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week high of $55.95. The firm has a 50 day moving average of $42.59 and a 200 day moving average of $41.88. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.00 billion, a PE ratio of 5.60 and a beta of 2.55.

Ovintiv Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OVV shares. Mizuho lowered their price target on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Scotiabank raised Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. Two investment 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.com, the stock has a consensus 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.