Sei Investments Co. Acquires 191,929 Shares of Ovintiv Inc. (NYSE:OVV)

Sei Investments Co. boosted its stake in Ovintiv Inc. (NYSE:OVV) by 419.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 237,693 shares of the company’s stock after buying an additional 191,929 shares during the period. Sei Investments Co.’s holdings in Ovintiv were worth $9,627,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. True Wealth Design LLC lifted its holdings in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after buying an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after buying an additional 940 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

Shares of OVV opened at $42.24 on Monday. The stock has a market cap of $11.00 billion, a P/E ratio of 5.60 and a beta of 2.55. Ovintiv Inc. has a 1 year low of $36.62 and a 1 year high of $55.95. The stock’s 50-day moving average price is $42.59 and its two-hundred day moving average price is $41.93. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OVV. Truist Financial boosted their target price on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Williams Trading set a $58.00 target price on Ovintiv in a report on Wednesday, March 5th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and cut their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv has a consensus rating of “Buy” and a consensus target price of $57.17.

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.