Financial Engines Advisors L.L.C. Boosts Stock Position in Ovintiv Inc. (NYSE:OVV)

Financial Engines Advisors L.L.C. increased its holdings in Ovintiv Inc. (NYSE:OVV) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,933 shares of the company’s stock after purchasing an additional 1,945 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Ovintiv were worth $807,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in shares of Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 1.5 %

Shares of NYSE OVV opened at $43.32 on Friday. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The firm has a market cap of $11.28 billion, a PE ratio of 5.74 and a beta of 2.55. The business has a fifty day simple moving average of $42.66 and a two-hundred day simple moving average of $41.87. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a dividend yield of 2.77%. Ovintiv’s payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OVV shares. National Bankshares boosted 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. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. BMO Capital Markets upgraded shares of Ovintiv from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $57.00 in a report on Monday. Williams Trading set a $58.00 price target on shares of Ovintiv in a report on Wednesday, March 5th. Finally, Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $57.17.

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.