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 fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 314,052 shares of the company’s stock after selling 2,902 shares during the quarter. River Road Asset Management LLC owned about 0.12% of Ovintiv worth $12,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OVV. True Wealth Design LLC grew its stake in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake 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 acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in Ovintiv by 4,132.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock valued at $53,000 after purchasing an additional 1,281 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Up 3.0 %

Shares of NYSE OVV opened at $38.96 on Wednesday. The stock has a market capitalization of $10.14 billion, a P/E ratio of 5.17 and a beta of 2.55. The stock’s fifty day moving average is $42.97 and its 200 day moving average is $41.91. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, March 14th. Ovintiv’s payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

OVV has been the topic of a number of research analyst reports. Truist Financial raised their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Barclays lifted their target price on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Citigroup decreased 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. Finally, Mizuho dropped their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.94.

Ovintiv Company Profile

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.