Diversified Trust Co Reduces Holdings in Ovintiv Inc. (NYSE:OVV)

Diversified Trust Co reduced its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,975 shares of the company’s stock after selling 248 shares during the period. Diversified Trust Co’s holdings in Ovintiv were worth $1,173,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after purchasing an additional 1,207,610 shares in the last quarter. Pacer Advisors Inc. increased its position in Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after buying an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. increased its position in Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after buying an additional 212,535 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ovintiv by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after buying an additional 205,409 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ovintiv by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock valued at $180,194,000 after buying an additional 142,296 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

OVV stock opened at $42.41 on Thursday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The firm has a market capitalization of $11.04 billion, a P/E ratio of 5.62 and a beta of 2.63. The company has a fifty day simple moving average of $41.87 and a two-hundred day simple moving average of $42.59. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.30 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.83%. Ovintiv’s dividend payout ratio is currently 15.92%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OVV. Citigroup decreased their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Morgan Stanley decreased their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Scotiabank raised their price target on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Finally, Evercore ISI lowered their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.59.

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.