Ovintiv Inc. (NYSE:OVV) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its position in Ovintiv Inc. (NYSE:OVV) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,680 shares of the company’s stock after selling 852 shares during the quarter. Securian Asset Management Inc.’s holdings in Ovintiv were worth $797,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 940 shares in the last quarter. HighTower Advisors LLC grew its position in Ovintiv by 4.7% in the 4th quarter. HighTower Advisors LLC now owns 16,175 shares of the company’s stock valued at $655,000 after acquiring an additional 719 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Ovintiv in the 4th quarter valued at about $351,000. Daiwa Securities Group Inc. grew its position in Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock valued at $830,000 after acquiring an additional 300 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new position in Ovintiv in the 4th quarter valued at about $235,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Price Performance

Shares of NYSE OVV opened at $40.50 on Friday. 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 Inc. has a twelve month low of $36.62 and a twelve month high of $55.95. The stock has a 50 day moving average of $42.87 and a two-hundred day moving average of $41.84. The stock has a market cap of $10.54 billion, a P/E ratio of 5.37 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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho lowered their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Scotiabank boosted their price objective on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Wells Fargo & Company lowered their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, National Bankshares boosted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.