iA Global Asset Management Inc. Purchases Shares of 10,185 Ovintiv Inc. (NYSE:OVV)

iA Global Asset Management Inc. purchased a new stake in Ovintiv Inc. (NYSE:OVV) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 10,185 shares of the company’s stock, valued at approximately $412,000.

Several other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of 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 purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Ovintiv by 71.3% in 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 period. Cullen Frost Bankers Inc. grew its stake in shares of Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after purchasing an additional 940 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Down 1.4 %

NYSE:OVV opened at $41.52 on Friday. The stock’s fifty day moving average price is $42.80 and its two-hundred day moving average price is $41.80. Ovintiv Inc. has a 52-week low of $36.62 and a 52-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 company has a market cap of $10.81 billion, a price-to-earnings ratio of 5.51 and a beta of 2.55.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group lowered their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Scotiabank upgraded Ovintiv to a “strong-buy” rating in a research note on Wednesday. Barclays upped their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. decreased 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. Finally, Truist Financial increased their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

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.