Ovintiv Inc. (NYSE:OVV) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC lessened its stake in Ovintiv Inc. (NYSE:OVV) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,737 shares of the company’s stock after selling 2,309 shares during the quarter. Prudent Man Advisors LLC’s holdings in Ovintiv were worth $435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. QRG Capital Management Inc. lifted its holdings in shares of Ovintiv by 4.0% in the 4th quarter. QRG Capital Management Inc. now owns 44,595 shares of the company’s stock valued at $1,806,000 after buying an additional 1,703 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Ovintiv in the 4th quarter valued at about $768,000. Bank of New York Mellon Corp increased 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 valued at $118,530,000 after purchasing an additional 8,168 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of Ovintiv in the 4th quarter valued at about $170,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Ovintiv by 14.8% in the 4th quarter. Allianz Asset Management GmbH now owns 890,036 shares of the company’s stock valued at $36,046,000 after purchasing an additional 114,534 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Up 0.7 %

OVV opened at $43.47 on Friday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The stock has a market capitalization of $11.32 billion, a PE ratio of 5.77 and a beta of 2.60. The business’s 50 day moving average price is $43.03 and its 200 day moving average price is $42.13. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is 28.57%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OVV shares. UBS Group cut their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Scotiabank lifted their price target on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. Mizuho cut their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Barclays lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price target for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

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.