Ovintiv Inc. (NYSE:OVV) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its stake in Ovintiv Inc. (NYSE:OVV) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,419 shares of the company’s stock after selling 700 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Ovintiv were worth $827,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of OVV. Wealth Enhancement Advisory Services LLC lifted its holdings in Ovintiv by 26.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,256 shares of the company’s stock worth $508,000 after purchasing an additional 2,786 shares during the period. US Bancorp DE lifted its holdings in Ovintiv by 13.9% in the third quarter. US Bancorp DE now owns 9,890 shares of the company’s stock worth $379,000 after purchasing an additional 1,209 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Ovintiv by 7.3% in the third quarter. Janney Montgomery Scott LLC now owns 29,959 shares of the company’s stock worth $1,148,000 after purchasing an additional 2,051 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Ovintiv by 13.7% in the third quarter. Asset Management One Co. Ltd. now owns 98,804 shares of the company’s stock worth $3,785,000 after purchasing an additional 11,939 shares during the period. Finally, M&G PLC acquired a new stake in Ovintiv in the third quarter worth about $8,620,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

OVV has been the subject of a number of research analyst reports. Citigroup cut their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. UBS Group cut their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Truist Financial upped their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. National Bankshares upped their price target 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, Scotiabank upped their price target on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.88.

Ovintiv Price Performance

OVV stock opened at $38.55 on Friday. The firm has a market capitalization of $10.03 billion, a PE ratio of 5.11 and a beta of 2.55. Ovintiv Inc. has a one year low of $36.62 and a one year 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. The firm has a 50-day moving average of $43.04 and a two-hundred day moving average of $41.98.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.11%. Ovintiv’s dividend payout ratio is 28.57%.

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.