Signaturefd LLC Sells 344 Shares of Ovintiv Inc. (NYSE:OVV)

Signaturefd LLC reduced its stake in shares of Ovintiv Inc. (NYSE:OVV) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,811 shares of the company’s stock after selling 344 shares during the period. Signaturefd LLC’s holdings in Ovintiv were worth $721,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in Ovintiv by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock worth $2,647,000 after purchasing an additional 231 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock worth $304,000 after acquiring an additional 280 shares during the period. Fifth Third Bancorp grew its holdings in Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after acquiring an additional 282 shares during the period. OneDigital Investment Advisors LLC grew its holdings in Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after acquiring an additional 298 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Ovintiv by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock worth $830,000 after acquiring an additional 300 shares during the period. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OVV shares. JPMorgan Chase & Co. decreased their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Barclays increased their price target on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Wells Fargo & Company reduced 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, Mizuho reduced their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.61.

Ovintiv Price Performance

OVV stock opened at $42.39 on Thursday. The company has a market capitalization of $11.04 billion, a P/E ratio of 5.62 and a beta of 2.55. 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 Inc. has a 52-week low of $36.62 and a 52-week high of $55.95. The business has a 50-day simple moving average of $42.85 and a two-hundred day simple moving average of $41.80.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid 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 yield of 2.83%. Ovintiv’s dividend payout ratio (DPR) is currently 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.