Dean Investment Associates LLC Sells 66,487 Shares of Ovintiv Inc. (NYSE:OVV)

Dean Investment Associates LLC reduced its stake in shares of Ovintiv Inc. (NYSE:OVV) by 89.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,241 shares of the company’s stock after selling 66,487 shares during the quarter. Dean Investment Associates LLC’s holdings in Ovintiv were worth $334,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings 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 buying an additional 360 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Mizuho Bank Ltd. purchased a new position in Ovintiv in the fourth quarter worth $40,000. Cullen Frost Bankers Inc. increased its position in shares of Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Ovintiv by 451.9% during 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 last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial increased their price target on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their price objective on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Ovintiv in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Williams Trading set a $58.00 target price on Ovintiv in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $56.06.

Ovintiv Price Performance

OVV stock opened at $33.81 on Friday. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 4.48 and a beta of 2.04. 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 Inc. has a 52-week low of $29.80 and a 52-week high of $53.57. The business has a fifty day moving average of $39.84 and a two-hundred day moving average of $41.43.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 28.57%.

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.