Ovintiv Inc. (NYSE:OVV) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 12.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,416 shares of the company’s stock after selling 32,994 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of Ovintiv worth $9,170,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Ovintiv by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock worth $1,193,272,000 after acquiring an additional 451,947 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Ovintiv by 1,732.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company’s stock worth $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ovintiv by 0.3% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after buying an additional 45,147 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Ovintiv by 30.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,524,743 shares of the company’s stock worth $61,752,000 after buying an additional 352,368 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Price Performance

Ovintiv stock opened at $33.81 on Friday. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $53.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a 50 day moving average price of $39.61 and a 200 day moving average price of $41.39. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 4.48 and a beta of 2.04.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.55%. Ovintiv’s dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

Several research firms have weighed in on OVV. Truist Financial raised their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bankshares lifted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $57.00 in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ovintiv presently has an average rating of “Buy” and a consensus target price of $56.06.

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.