Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 713 Shares of Ovintiv Inc. (NYSE:OVV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Ovintiv Inc. (NYSE:OVV) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,493 shares of the company’s stock after selling 713 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ovintiv were worth $2,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its holdings 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 purchasing an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC grew its stake in Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after buying an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after acquiring an additional 940 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup dropped their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Wells Fargo & Company boosted their target price on shares of Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Finally, Williams Trading set a $58.00 price target on shares of Ovintiv in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.79.

Ovintiv Price Performance

Shares of OVV stock opened at $43.05 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s fifty day simple moving average is $42.77 and its 200 day simple moving average is $41.82. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 5.71 and a beta of 2.55.

Ovintiv Announces Dividend

The company also recently announced 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. This represents a $1.20 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s payout ratio is 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.