Schaper Benz & Wise Investment Counsel Inc. WI Lowers Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Schaper Benz & Wise Investment Counsel Inc. WI reduced its position in Ovintiv Inc. (NYSE:OVV) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 135,277 shares of the company’s stock after selling 3,813 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Ovintiv were worth $5,479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of OVV. True Wealth Design LLC boosted its stake in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after purchasing an additional 335 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Ovintiv by 4,132.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock worth $53,000 after purchasing an additional 1,281 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

Shares of NYSE OVV opened at $38.55 on Friday. The company has a 50 day simple moving average of $43.04 and a two-hundred day simple moving average of $41.98. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 5.11 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.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. Ovintiv’s payout ratio is presently 28.57%.

Analyst Ratings Changes

OVV has been the subject of several analyst reports. National Bankshares increased their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Citigroup cut their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on shares of 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 raised shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their price target for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Finally, Barclays increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.88.

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.