Ovintiv Inc. (NYSE:OVV) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in Ovintiv Inc. (NYSE:OVV) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 298,946 shares of the company’s stock after selling 5,935 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ovintiv were worth $12,107,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in Ovintiv by 16.0% in the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock valued at $11,527,000 after buying an additional 37,341 shares during the last quarter. Smead Capital Management Inc. raised its stake in shares of Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after purchasing an additional 212,535 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock valued at $12,288,000 after purchasing an additional 13,536 shares in the last quarter. Entropy Technologies LP raised its stake in shares of Ovintiv by 319.9% during the third quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock valued at $5,726,000 after purchasing an additional 113,866 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Ovintiv by 8.9% during the third quarter. KBC Group NV now owns 333,207 shares of the company’s stock valued at $12,765,000 after purchasing an additional 27,338 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho cut their price objective on shares of 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 lifted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Barclays lifted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Citigroup cut their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, UBS Group cut their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Trading Up 0.7 %

Shares of OVV opened at $43.47 on Friday. The business’s 50-day moving average price is $43.03 and its 200 day moving average price is $42.13. The stock has a market capitalization of $11.32 billion, a P/E ratio of 5.77 and a beta of 2.60. Ovintiv Inc. has a 1-year low of $36.90 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.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. Ovintiv’s dividend payout ratio is currently 28.57%.

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.