8,658 Shares in Ovintiv Inc. (NYSE:OVV) Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 8,658 shares of the company’s stock, valued at approximately $351,000.

A number of other institutional investors also recently bought and sold shares of OVV. Sumitomo Mitsui Trust Group Inc. raised its holdings in Ovintiv by 1.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,762 shares of the company’s stock worth $19,337,000 after purchasing an additional 5,055 shares during the period. KBC Group NV raised its holdings in Ovintiv by 8.9% in the 3rd quarter. KBC Group NV now owns 333,207 shares of the company’s stock worth $12,765,000 after purchasing an additional 27,338 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Ovintiv by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after purchasing an additional 298 shares during the period. CIBC Asset Management Inc raised its holdings in Ovintiv by 3.7% during the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after acquiring an additional 280 shares during the period. Finally, Empowered Funds LLC raised its holdings in Ovintiv by 30.1% during the third quarter. Empowered Funds LLC now owns 193,052 shares of the company’s stock valued at $7,396,000 after acquiring an additional 44,716 shares during the period. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price target on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Mizuho cut their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Truist Financial lifted their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus target price of $56.61.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $40.50 on Monday. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. The stock’s fifty day moving average price is $42.87 and its 200-day moving average price is $41.83. The firm has a market cap of $10.54 billion, a P/E ratio of 5.37 and a beta of 2.55. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.96%. Ovintiv’s dividend payout ratio is currently 28.57%.

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.