Pictet Asset Management Holding SA Raises Stake in Ovintiv Inc. (NYSE:OVV)

Pictet Asset Management Holding SA boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,690 shares of the company’s stock after buying an additional 4,272 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ovintiv were worth $3,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacific Heights Asset Management LLC raised its holdings in shares of Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock worth $61,358,000 after purchasing an additional 1,325,000 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Ovintiv by 1,807.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock worth $32,070,000 after purchasing an additional 750,349 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Ovintiv by 180.0% during the 4th quarter. Teacher Retirement System of Texas now owns 744,905 shares of the company’s stock valued at $30,169,000 after buying an additional 478,846 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock valued at $1,193,272,000 after buying an additional 451,947 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ovintiv by 30.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,524,743 shares of the company’s stock worth $61,752,000 after buying an additional 352,368 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on OVV shares. UBS Group decreased their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Truist Financial increased their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. National Bankshares lifted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $57.17.

Ovintiv Trading Down 15.8 %

Shares of OVV stock opened at $32.89 on Friday. Ovintiv Inc. has a fifty-two week low of $32.63 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s fifty day moving average is $42.11 and its two-hundred day moving average is $41.94. The firm has a market capitalization of $8.57 billion, a P/E ratio of 4.36 and a beta of 2.04.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

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.