Gallacher Capital Management LLC Increases Position in Ovintiv Inc. (NYSE:OVV)

Gallacher Capital Management LLC lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,562 shares of the company’s stock after acquiring an additional 1,937 shares during the quarter. Gallacher Capital Management LLC’s holdings in Ovintiv were worth $509,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of OVV. Franklin Resources Inc. increased its holdings in Ovintiv by 16.0% during the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after purchasing an additional 37,341 shares during the last quarter. Smead Capital Management Inc. boosted its stake in Ovintiv by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after acquiring an additional 212,535 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Ovintiv by 4.4% during the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after acquiring an additional 13,536 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Ovintiv by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after purchasing an additional 45,147 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Ovintiv by 449.3% during the third quarter. Quest Partners LLC now owns 42,109 shares of the company’s stock worth $1,613,000 after purchasing an additional 34,443 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OVV shares. Williams Trading set a $58.00 price objective on Ovintiv in a report on Wednesday, March 5th. Scotiabank upped their price target on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Mizuho reduced their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. 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 report on Tuesday, November 26th. Four investment 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. According to MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and an average price target of $56.61.

Ovintiv Trading Up 4.6 %

Shares of OVV stock opened at $40.50 on Friday. The firm has a market capitalization of $10.54 billion, a PE ratio of 5.37 and a beta of 2.55. The stock has a fifty day moving average of $42.87 and a two-hundred day moving average of $41.84. Ovintiv Inc. has a 1 year low of $36.62 and a 1 year high of $55.95. 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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend 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.