Dynamic Technology Lab Private Ltd Has $1.67 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Dynamic Technology Lab Private Ltd raised its position in Ovintiv Inc. (NYSE:OVV) by 30.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 41,279 shares of the company’s stock after purchasing an additional 9,748 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Ovintiv were worth $1,672,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Ninepoint Partners LP lifted its holdings in Ovintiv by 16.9% in the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock valued at $9,112,000 after buying an additional 32,500 shares during the period. Franklin Resources Inc. raised its position in shares of Ovintiv by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after acquiring an additional 37,341 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Ovintiv by 4.4% in the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after acquiring an additional 13,536 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ovintiv by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after purchasing an additional 45,147 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ovintiv by 19.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company’s stock valued at $8,768,000 after purchasing an additional 34,207 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Stock Down 15.8 %

OVV stock opened at $32.89 on Friday. The firm has a market capitalization of $8.57 billion, a PE ratio of 4.36 and a beta of 2.04. 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 Inc. has a twelve month low of $32.63 and a twelve month high of $55.95. The stock’s 50 day moving average is $42.11 and its 200-day moving average is $41.94.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $55.00 to $54.00 in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company upped their price objective on shares of Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $57.17.

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.