Ovintiv Inc. (NYSE:OVV) Stock Holdings Raised by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its stake in Ovintiv Inc. (NYSE:OVV) by 1,577.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,458,881 shares of the company’s stock after purchasing an additional 2,312,292 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.94% of Ovintiv worth $99,587,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its holdings in Ovintiv by 1,732.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock valued at $137,134,000 after buying an additional 3,203,087 shares during the last quarter. Pacific Heights Asset Management LLC grew its position in shares of Ovintiv by 697.4% in the 4th quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock worth $61,358,000 after acquiring an additional 1,325,000 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Ovintiv by 1,807.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock valued at $32,070,000 after acquiring an additional 750,349 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ovintiv by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company’s stock valued at $225,265,000 after acquiring an additional 683,700 shares in the last quarter. Finally, Yaupon Capital Management LP lifted its stake in Ovintiv by 246.2% during the fourth quarter. Yaupon Capital Management LP now owns 934,442 shares of the company’s stock worth $37,845,000 after purchasing an additional 664,561 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on OVV shares. Barclays lowered their target price on shares of Ovintiv from $59.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. Truist Financial raised their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. BMO Capital Markets raised 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 report on Monday, March 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. Two research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $55.76.

Ovintiv Stock Performance

OVV stock opened at $34.70 on Monday. The company has a 50-day simple moving average of $38.62 and a 200 day simple moving average of $41.06. The company has a market capitalization of $9.04 billion, a P/E ratio of 4.60 and a beta of 2.04. 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 fifty-two week low of $29.80 and a fifty-two week high of $53.57.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 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.