Ovintiv Inc. (NYSE:OVV) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lowered its stake in shares of Ovintiv Inc. (NYSE:OVV) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,003 shares of the company’s stock after selling 500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Ovintiv were worth $2,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OVV. Creative Planning increased its stake in shares of Ovintiv by 3.8% during the 3rd quarter. Creative Planning now owns 33,244 shares of the company’s stock valued at $1,274,000 after acquiring an additional 1,203 shares during the last quarter. Raymond James & Associates increased its position in Ovintiv by 1.2% during the 3rd quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after purchasing an additional 2,275 shares in the last quarter. International Assets Investment Management LLC increased its position in Ovintiv by 5,704.0% during the 3rd quarter. International Assets Investment Management LLC now owns 85,087 shares of the company’s stock worth $3,260,000 after purchasing an additional 83,621 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Ovintiv by 26.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,256 shares of the company’s stock worth $508,000 after purchasing an additional 2,786 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Ovintiv by 11.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 30,670 shares of the company’s stock worth $1,174,000 after purchasing an additional 3,260 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

OVV stock opened at $43.19 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.24 billion, a P/E ratio of 5.73 and a beta of 2.60. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95. The stock’s 50 day simple moving average is $42.92 and its 200 day simple moving average is $42.13.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is currently 15.92%.

Analyst Ratings Changes

A number of analysts recently issued reports on OVV shares. Wells Fargo & Company dropped their target price on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Scotiabank increased their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Truist Financial increased their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Barclays upped their price target on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.88.

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.