Ovintiv Inc. (NYSE:OVV) Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its position in shares of Ovintiv Inc. (NYSE:OVV) by 1,577.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 298,500 shares of the company’s stock after purchasing an additional 280,700 shares during the quarter. Ovintiv accounts for 0.6% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 28th largest position. Hillsdale Investment Management Inc. owned about 0.11% of Ovintiv worth $12,079,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OVV. True Wealth Design LLC boosted its stake in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake 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 acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after acquiring an additional 335 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Price Performance

NYSE OVV opened at $41.52 on Friday. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95. The stock’s 50-day moving average is $42.80 and its two-hundred day moving average is $41.79. 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 firm has a market cap of $10.81 billion, a P/E ratio of 5.51 and a beta of 2.55.

Ovintiv Dividend Announcement

The business 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 dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.89%. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Citigroup reduced their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Williams Trading set a $58.00 target price on Ovintiv in a research report on Wednesday, March 5th. Truist Financial raised their target price on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, National Bankshares raised their target price on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average target price of $56.78.

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.