Russell Investments Group Ltd. Buys 731 Shares of Ovintiv Inc. (NYSE:OVV)

Russell Investments Group Ltd. boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 266,386 shares of the company’s stock after acquiring an additional 731 shares during the period. Russell Investments Group Ltd.’s holdings in Ovintiv were worth $10,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after acquiring an additional 335 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ovintiv in the fourth quarter valued at approximately $40,000. Cullen Frost Bankers Inc. lifted its position in shares of Ovintiv by 3,571.4% in 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 boosted its holdings in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after purchasing an additional 940 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

OVV has been the topic of several recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $57.00 price target on shares of Ovintiv in a research note on Wednesday, March 26th. Truist Financial lifted their target price on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Barclays increased their price target on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. BMO Capital Markets raised Ovintiv from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, National Bankshares increased their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Ovintiv presently has an average rating of “Buy” and an average price target of $57.17.

Ovintiv Stock Up 3.3 %

Ovintiv stock opened at $32.77 on Friday. The company’s 50-day moving average price is $40.67 and its two-hundred day moving average price is $41.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.53 billion, a P/E ratio of 4.35 and a beta of 2.04. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $55.77.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.66%. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

Ovintiv 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.