River Road Asset Management LLC Has $12.72 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

River Road Asset Management LLC cut its holdings in Ovintiv Inc. (NYSE:OVV) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 314,052 shares of the company’s stock after selling 2,902 shares during the quarter. River Road Asset Management LLC’s holdings in Ovintiv were worth $12,719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in 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 last quarter. Cullen Frost Bankers Inc. boosted its position in Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after buying an additional 1,000 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in shares of Ovintiv by 4,132.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock worth $53,000 after buying an additional 1,281 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $38.96 on Wednesday. The business has a 50-day moving average price of $42.97 and a two-hundred day moving average price of $41.91. Ovintiv Inc. has a 1-year low of $36.62 and a 1-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 company has a market cap of $10.14 billion, a P/E ratio of 5.17 and a beta of 2.55.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.08%. Ovintiv’s payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

OVV has been the subject of a number of research reports. Citigroup dropped their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Mizuho cut their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Truist Financial upped their price objective on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research report on Wednesday, March 5th. Finally, Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the company from $55.00 to $54.00 in a research report on Monday, January 13th. 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 stock. According to MarketBeat, Ovintiv has an average rating of “Moderate Buy” and an average price target of $56.94.

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.