Gateway Investment Advisers LLC boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV – Get Rating) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,048 shares of the company’s stock after acquiring an additional 474 shares during the period. Gateway Investment Advisers LLC’s holdings in Ovintiv were worth $1,118,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of OVV. Ronald Blue Trust Inc. acquired a new stake in Ovintiv during the 2nd quarter worth $31,000. Rosenberg Matthew Hamilton boosted its position in shares of Ovintiv by 26.7% during the third quarter. Rosenberg Matthew Hamilton now owns 950 shares of the company’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Quent Capital LLC bought a new position in shares of Ovintiv during the third quarter worth $58,000. Raleigh Capital Management Inc. bought a new position in shares of Ovintiv during the second quarter worth $69,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Ovintiv in the 3rd quarter valued at $83,000. Institutional investors and hedge funds own 76.76% of the company’s stock.
Analysts Set New Price Targets
OVV has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of Ovintiv from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $60.00 to $51.00 in a research note on Tuesday, January 24th. BMO Capital Markets cut Ovintiv from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $56.00 to $51.00 in a research report on Tuesday, March 7th. Mizuho reduced their price objective on Ovintiv from $70.00 to $66.00 in a research report on Friday, March 10th. Citigroup cut Ovintiv from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $38.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. cut Ovintiv from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $59.00 to $53.00 in a research report on Tuesday, March 14th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.44.
Ovintiv Price Performance
Ovintiv Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. Ovintiv’s dividend payout ratio (DPR) is currently 7.04%.
Insider Transactions at Ovintiv
In other news, Director Howard John Mayson sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $45.62, for a total transaction of $136,860.00. Following the transaction, the director now owns 21,403 shares in the company, valued at $976,404.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.
Ovintiv Company Profile
Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.
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