Ovintiv Inc. (NYSE:OVV) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,260,690 shares of the company’s stock after purchasing an additional 21,738 shares during the quarter. Invesco Ltd.’s holdings in Ovintiv were worth $51,058,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock worth $1,193,272,000 after acquiring an additional 451,947 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Ovintiv by 1,732.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock valued at $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ovintiv by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock worth $118,530,000 after purchasing an additional 8,168 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ovintiv by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock worth $77,508,000 after purchasing an additional 45,147 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Ovintiv by 30.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,524,743 shares of the company’s stock valued at $61,752,000 after purchasing an additional 352,368 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OVV. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Scotiabank raised Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Wells Fargo & Company increased their price target on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their price objective on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Ovintiv in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $56.06.

Ovintiv Stock Down 0.4 %

Shares of Ovintiv stock opened at $32.16 on Wednesday. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 4.26 and a beta of 2.04. The stock has a 50-day simple moving average of $40.25 and a 200-day simple moving average of $41.52. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $53.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.73%. The ex-dividend date was Friday, March 14th. Ovintiv’s dividend payout ratio is 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.