Cullen Frost Bankers Inc. Has $42,000 Holdings in Ovintiv Inc. (NYSE:OVV)

Cullen Frost Bankers Inc. boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 3,571.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,028 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Ovintiv were worth $42,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OVV. Pacer Advisors Inc. boosted its stake in Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after buying an additional 6,486,159 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after buying an additional 1,207,610 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Ovintiv by 1,807.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock valued at $32,070,000 after buying an additional 750,349 shares in the last quarter. Victory Capital Management Inc. raised its position in Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after purchasing an additional 350,909 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in Ovintiv by 2,105.0% in the third quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock valued at $12,763,000 after purchasing an additional 318,041 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on OVV shares. Truist Financial increased their target price on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and dropped their target price for the company from $55.00 to $54.00 in a research report on Monday, January 13th. National Bankshares increased their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company dropped their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Barclays increased their target price on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.88.

Ovintiv Trading Up 1.5 %

Shares of OVV stock opened at $38.55 on Monday. The company has a market cap of $10.03 billion, a P/E ratio of 5.11 and a beta of 2.55. The stock has a 50 day simple moving average of $43.04 and a two-hundred day simple moving average of $41.97. 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 Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.11%. Ovintiv’s payout ratio is currently 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.