Amalgamated Bank Has $5.02 Million Position in Ovintiv Inc. (NYSE:OVV)

Amalgamated Bank lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,856 shares of the company’s stock after selling 1,870 shares during the quarter. Amalgamated Bank’s holdings in Ovintiv were worth $5,016,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OVV. Pacer Advisors Inc. increased its stake in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after purchasing an additional 6,486,159 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Ovintiv by 17.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after buying an additional 1,207,610 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Ovintiv by 1,807.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock worth $32,070,000 after buying an additional 750,349 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Ovintiv by 42.6% during the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after buying an additional 350,909 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of Ovintiv by 2,105.0% in the third quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock worth $12,763,000 after buying an additional 318,041 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OVV. National Bankshares raised their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their price target for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Truist Financial boosted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Citigroup lowered their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their target price on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Four research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.88.

Ovintiv Price Performance

Shares of OVV stock opened at $43.19 on Friday. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The company has a market capitalization of $11.24 billion, a P/E ratio of 5.73 and a beta of 2.60. The stock has a 50 day moving average of $42.92 and a two-hundred day moving average of $42.13. 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 Dividend Announcement

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 given a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.78%. Ovintiv’s dividend payout ratio (DPR) is currently 15.92%.

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.