Mcintyre Freedman & Flynn Investment Advisers Inc. Reduces Stock Position in Ovintiv Inc. (NYSE:OVV)

Mcintyre Freedman & Flynn Investment Advisers Inc. lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,600 shares of the company’s stock after selling 2,000 shares during the quarter. Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings in Ovintiv were worth $1,077,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms have weighed in on OVV. National Bankshares boosted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and cut their price target for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Scotiabank upped their price target on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Wells Fargo & Company cut their price target on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, UBS Group lowered their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.94.

Ovintiv Price Performance

Shares of NYSE OVV opened at $37.89 on Tuesday. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 5.02 and a beta of 2.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s 50 day simple moving average is $43.00 and its 200-day simple moving average is $41.94.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. Ovintiv’s dividend payout ratio (DPR) is 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.