Ovintiv Inc. (NYSE:OVV) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 65,346 shares of the company’s stock after buying an additional 231 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ovintiv were worth $2,647,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in OVV. True Wealth Design LLC raised its position in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings 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. UMB Bank n.a. boosted its holdings in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in Ovintiv in the 3rd quarter worth approximately $65,000. Finally, Covestor Ltd grew its position in Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. UBS Group dropped their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and reduced their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. Barclays upped their target price on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

Ovintiv Stock Performance

OVV stock opened at $44.90 on Friday. The stock’s fifty day moving average is $42.67 and its two-hundred day moving average is $42.46. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 5.96 and a beta of 2.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.09 by $0.76. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same quarter last year, the business earned $1.74 earnings per share. On average, research analysts predict that Ovintiv Inc. will post 5.58 EPS for the current year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. Ovintiv’s payout ratio is 15.92%.

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.