Ovintiv Inc. (NYSE:OVV) Shares Acquired by Ninepoint Partners LP

Ninepoint Partners LP increased its stake in Ovintiv Inc. (NYSE:OVV) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,000 shares of the company’s stock after acquiring an additional 32,500 shares during the period. Ovintiv makes up 1.3% of Ninepoint Partners LP’s investment portfolio, making the stock its 14th largest position. Ninepoint Partners LP owned about 0.09% of Ovintiv worth $9,112,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of OVV. True Wealth Design LLC lifted its position 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 buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 buying an additional 360 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 buying an additional 335 shares in the last quarter. Cullen Frost Bankers Inc. lifted 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 buying an additional 1,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after buying an additional 940 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Up 4.6 %

Shares of NYSE:OVV opened at $40.50 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 12-month low of $36.62 and a 12-month high of $55.95. The company has a fifty day simple moving average of $42.87 and a 200 day simple moving average of $41.84. The firm has a market cap of $10.54 billion, a PE ratio of 5.37 and a beta of 2.55.

Ovintiv Announces Dividend

The firm also recently announced 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 of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.96%. Ovintiv’s payout ratio is 28.57%.

Analyst Ratings Changes

A number of brokerages have weighed in on OVV. Williams Trading set a $58.00 price target on shares of Ovintiv in a research report on Wednesday, March 5th. Citigroup reduced their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Mizuho dropped their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, National Bankshares lifted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $56.61.

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.