Smartleaf Asset Management LLC Has $32,000 Holdings in Ovintiv Inc. (NYSE:OVV)

Smartleaf Asset Management LLC increased its holdings in Ovintiv Inc. (NYSE:OVV) by 71.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 805 shares of the company’s stock after acquiring an additional 335 shares during the period. Smartleaf Asset Management LLC’s holdings in Ovintiv were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OVV. True Wealth Design LLC increased its stake in 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 last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv in the 3rd quarter valued at about $65,000. Covestor Ltd increased its stake in Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 2.2 %

OVV opened at $39.80 on Thursday. The company has a 50 day moving average of $42.96 and a 200 day moving average of $41.89. The company has a market cap of $10.36 billion, a PE ratio of 5.28 and a beta of 2.55. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, March 14th. Ovintiv’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

OVV has been the subject of several analyst reports. Mizuho decreased their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. National Bankshares increased their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. Scotiabank increased their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company reduced 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. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.94.

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.