Poinciana Advisors Group LLC Invests $214,000 in Ovintiv Inc. (NYSE:OVV)

Poinciana Advisors Group LLC acquired a new position in Ovintiv Inc. (NYSE:OVV) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,275 shares of the company’s stock, valued at approximately $214,000.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of Ovintiv by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after buying an additional 37,341 shares during the last quarter. Smead Capital Management Inc. boosted its position in shares of Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after purchasing an additional 212,535 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock valued at $12,288,000 after purchasing an additional 13,536 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ovintiv by 2.4% during the fourth 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 boosted 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 valued at $1,613,000 after purchasing an additional 34,443 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on OVV. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Truist Financial boosted their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group decreased their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, National Bankshares upped their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Four equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.61.

Ovintiv Stock Performance

NYSE OVV opened at $40.50 on Friday. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 5.37 and a beta of 2.55. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $42.87 and a 200-day moving average price of $41.85. Ovintiv Inc. has a twelve month low of $36.62 and a twelve month high of $55.95.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s payout ratio is presently 28.57%.

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.