Nisa Investment Advisors LLC Grows Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Nisa Investment Advisors LLC lifted its position in Ovintiv Inc. (NYSE:OVV) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OVV. True Wealth Design LLC increased its stake in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv in the third quarter valued at $65,000. Finally, Covestor Ltd boosted its holdings 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 purchasing an additional 560 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 1.9 %

Shares of OVV stock opened at $44.90 on Friday. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. 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 business’s 50 day moving average is $42.67 and its two-hundred day moving average is $42.46. The company has a market capitalization of $11.69 billion, a P/E ratio of 5.96 and a beta of 2.63.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.76. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate 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 firm earned $1.74 EPS. Equities analysts forecast that Ovintiv Inc. will post 5.58 EPS for the current year.

Ovintiv Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OVV. Barclays upped their price target on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company decreased their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, UBS Group dropped their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

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.