Burney Co. Reduces Stock Position in Ovintiv Inc. (NYSE:OVV)

Burney Co. cut its position in shares of Ovintiv Inc. (NYSE:OVV) by 88.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,049 shares of the company’s stock after selling 68,033 shares during the period. Burney Co.’s holdings in Ovintiv were worth $366,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 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 acquiring an additional 636 shares during the last quarter. UMB Bank n.a. increased its position 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 during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv in the 3rd quarter valued at about $65,000. Covestor Ltd lifted its holdings in shares of Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after acquiring an additional 560 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in Ovintiv during the third quarter worth $122,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 0.4 %

NYSE:OVV opened at $45.73 on Friday. The company has a market capitalization of $11.90 billion, a PE ratio of 6.06 and a beta of 2.63. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The stock’s 50 day moving average price is $42.38 and its 200 day moving average price is $42.53. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.30 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. Ovintiv’s payout ratio is 15.92%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OVV shares. UBS Group dropped their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Scotiabank upped their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Wells Fargo & Company decreased their price target on shares of 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, Barclays increased their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.