Signaturefd LLC Has $721,000 Position in Ovintiv Inc. (NYSE:OVV)

Signaturefd LLC lowered its stake in shares of Ovintiv Inc. (NYSE:OVV) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,811 shares of the company’s stock after selling 344 shares during the quarter. Signaturefd LLC’s holdings in Ovintiv were worth $721,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Gallacher Capital Management LLC grew its position in Ovintiv by 18.2% during the fourth quarter. Gallacher Capital Management LLC now owns 12,562 shares of the company’s stock worth $509,000 after buying an additional 1,937 shares in the last quarter. Ninepoint Partners LP grew its position in Ovintiv by 16.9% during the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock worth $9,112,000 after buying an additional 32,500 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Ovintiv during the fourth quarter worth approximately $215,000. Natixis Advisors LLC grew its position in Ovintiv by 8.3% during the fourth quarter. Natixis Advisors LLC now owns 36,393 shares of the company’s stock worth $1,474,000 after buying an additional 2,797 shares in the last quarter. Finally, Poinciana Advisors Group LLC acquired a new stake in Ovintiv during the fourth quarter worth approximately $214,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $58.00 target price on Ovintiv in a research note on Wednesday, March 5th. National Bankshares upped their target price on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Citigroup cut their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Mizuho cut their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.61.

Ovintiv Stock Up 4.0 %

Shares of OVV opened at $42.39 on Thursday. Ovintiv Inc. has a 52 week low of $36.62 and a 52 week high of $55.95. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 5.62 and a beta of 2.55. 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 stock has a fifty day moving average of $42.85 and a 200-day moving average of $41.80.

Ovintiv Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

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.