Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.33 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 57,493 shares of the company’s stock after selling 713 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ovintiv were worth $2,328,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of OVV. Nisa Investment Advisors LLC increased its stake in shares of Ovintiv by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after buying an additional 231 shares in the last quarter. Fifth Third Bancorp grew its holdings in Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after acquiring an additional 282 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock valued at $830,000 after acquiring an additional 300 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Ovintiv by 1.6% in the third quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock worth $781,000 after acquiring an additional 322 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after purchasing an additional 335 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Up 3.8 %

Shares of Ovintiv stock opened at $43.05 on Tuesday. 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. The business’s 50 day simple moving average is $42.77 and its 200 day simple moving average is $41.82. The firm has a market cap of $11.21 billion, a PE ratio of 5.71 and a beta of 2.55.

Ovintiv Dividend Announcement

The firm 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

OVV has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. BMO Capital Markets raised Ovintiv from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $57.00 in a research note on Monday. JPMorgan Chase & Co. cut their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $58.00 price objective on Ovintiv in a research report on Wednesday, March 5th. Finally, National Bankshares upped their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.79.

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.