Securian Asset Management Inc. Trims Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Securian Asset Management Inc. cut its stake in shares of Ovintiv Inc. (NYSE:OVV) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,680 shares of the company’s stock after selling 852 shares during the quarter. Securian Asset Management Inc.’s holdings in Ovintiv were worth $797,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OVV. True Wealth Design LLC lifted its holdings 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 lifted 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 purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 during the period. Cullen Frost Bankers Inc. lifted its holdings in shares of Ovintiv by 3,571.4% during 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 during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of 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 period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OVV has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Mizuho cut their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Citigroup cut their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Truist Financial increased their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.61.

Ovintiv Trading Up 4.6 %

Ovintiv stock opened at $40.50 on Friday. The stock has a market cap of $10.54 billion, a PE ratio of 5.37 and a beta of 2.55. The stock has a 50-day moving average price of $42.87 and a 200 day moving average price of $41.84. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 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.