Ovintiv Inc. (NYSE:OVV) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 42.9% in the 4th quarter, HoldingsChannel reports. The firm owned 33,886 shares of the company’s stock after purchasing an additional 10,178 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Ovintiv were worth $1,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. True Wealth Design LLC boosted its stake 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 valued at $25,000 after buying an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Ovintiv by 71.3% in 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. lifted its stake in Ovintiv by 3,571.4% in the fourth 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 during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 owned by institutional investors and hedge funds.

Ovintiv Price Performance

Shares of OVV opened at $42.24 on Monday. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 5.60 and a beta of 2.55. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95. The firm has a 50-day simple moving average of $42.59 and a 200-day simple moving average of $41.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

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 paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Mizuho decreased their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Barclays raised their target price on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Truist Financial upped their price target on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.