Financial Engines Advisors L.L.C. Raises Holdings in Ovintiv Inc. (NYSE:OVV)

Financial Engines Advisors L.L.C. lifted its holdings in Ovintiv Inc. (NYSE:OVV) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,933 shares of the company’s stock after purchasing an additional 1,945 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Ovintiv were worth $807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in Ovintiv by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after acquiring an additional 231 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Ovintiv by 2.8% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,183 shares of the company’s stock valued at $412,000 after purchasing an additional 276 shares during the last quarter. Fifth Third Bancorp lifted its position in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after purchasing an additional 282 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Ovintiv by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock worth $830,000 after purchasing an additional 300 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Ovintiv by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock worth $781,000 after purchasing an additional 322 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $43.32 on Friday. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 5.74 and a beta of 2.55. The firm has a fifty day moving average price of $42.66 and a 200 day moving average price of $41.87. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. Ovintiv’s payout ratio is 28.57%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OVV. Wells Fargo & Company increased their price target on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Morgan Stanley reissued an “overweight” rating and issued a $57.00 target price on shares of Ovintiv in a report on Wednesday. Barclays upped their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Truist Financial lifted their price objective on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $57.17.

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.