Intrust Bank NA Reduces Stake in Ovintiv Inc. (NYSE:OVV)

Intrust Bank NA lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 4.0% during the 4th quarter, Holdings Channel reports. The fund owned 11,096 shares of the company’s stock after selling 459 shares during the quarter. Intrust Bank NA’s holdings in Ovintiv were worth $449,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OVV. True Wealth Design LLC raised its stake in 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 raised its position in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in 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 acquiring an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 2.5 %

Shares of Ovintiv stock opened at $42.24 on Monday. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 5.60 and a beta of 2.55. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The company’s 50-day simple moving average is $42.59 and its 200-day simple moving average is $41.93. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analyst Weigh In

OVV has been the subject of a number of research analyst reports. Mizuho lowered their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial increased their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley reissued an “overweight” rating and issued a $57.00 price target on shares of Ovintiv in a research note on Wednesday, March 26th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company upped their price target on Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $57.17.

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.