Chicago Partners Investment Group LLC Invests $244,000 in Ovintiv Inc. (NYSE:OVV)

Chicago Partners Investment Group LLC bought a new stake in Ovintiv Inc. (NYSE:OVV) in the fourth quarter, HoldingsChannel reports. The fund bought 5,761 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after acquiring an additional 231 shares in the last quarter. Drive Wealth Management LLC grew its stake in Ovintiv by 2.5% in the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $395,000 after purchasing an additional 251 shares in the last quarter. CIBC Asset Management Inc grew its stake in Ovintiv by 3.7% in the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after purchasing an additional 280 shares in the last quarter. Fifth Third Bancorp increased its position in shares of 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 purchasing an additional 282 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OVV shares. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their price objective 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. National Bankshares lifted their price target on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Scotiabank lifted their target price on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Stock Up 4.2 %

NYSE OVV opened at $43.72 on Wednesday. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 5.80 and a beta of 2.60. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $42.37 and a 200-day moving average of $42.18. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.76. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same quarter in the prior year, the business posted $1.74 earnings per share. On average, equities research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. Ovintiv’s dividend 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.