Swiss National Bank Has $30.16 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Swiss National Bank lowered its stake in shares of Ovintiv Inc. (NYSE:OVV) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 744,700 shares of the company’s stock after selling 47,700 shares during the quarter. Swiss National Bank owned approximately 0.29% of Ovintiv worth $30,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its stake in shares of Ovintiv by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after acquiring an additional 231 shares during the period. Drive Wealth Management LLC raised its holdings in Ovintiv by 2.5% during the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock worth $395,000 after purchasing an additional 251 shares during the last quarter. CIBC Asset Management Inc lifted its position in Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after purchasing an additional 280 shares during the period. Fifth Third Bancorp grew its position in shares of Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after buying an additional 282 shares during the period. Finally, OneDigital Investment Advisors LLC grew its position in shares of Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 1.3 %

OVV stock opened at $41.06 on Tuesday. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 5.45 and a beta of 2.55. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The business has a 50 day moving average price of $42.87 and a two-hundred day moving average price of $41.81. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.92%. Ovintiv’s dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. National Bankshares upped their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Williams Trading set a $58.00 target price on Ovintiv in a report on Wednesday, March 5th. Finally, Barclays upped their price target on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.61.

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.