Ovintiv Inc. (NYSE:OVV) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its holdings in Ovintiv Inc. (NYSE:OVV) by 44.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,146 shares of the company’s stock after selling 19,223 shares during the quarter. Atria Investments Inc’s holdings in Ovintiv were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. True Wealth Design LLC lifted its stake in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after buying an additional 360 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after buying an additional 335 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in Ovintiv by 4,132.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock valued at $53,000 after buying an additional 1,281 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv during the third quarter valued at about $65,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on OVV shares. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. Scotiabank upped their target price on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Truist Financial upped their target price on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup dropped their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Mizuho dropped their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.94.

Ovintiv Trading Up 2.2 %

NYSE:OVV opened at $39.80 on Thursday. The stock’s 50 day moving average price is $42.96 and its 200 day moving average price is $41.89. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week high of $55.95. The company has a market capitalization of $10.36 billion, a P/E ratio of 5.28 and a beta of 2.55. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.02%. Ovintiv’s payout ratio is currently 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.