Daiwa Securities Group Inc. Purchases 300 Shares of Ovintiv Inc. (NYSE:OVV)

Daiwa Securities Group Inc. boosted its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,500 shares of the company’s stock after buying an additional 300 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ovintiv were worth $830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OVV. Nisa Investment Advisors LLC increased its stake in shares of Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after acquiring an additional 231 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $395,000 after buying an additional 251 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Ovintiv by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after buying an additional 280 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after buying an additional 282 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in shares of Ovintiv by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock valued at $231,000 after buying an additional 298 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays increased their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group reduced their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. JPMorgan Chase & Co. reduced their price objective on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup cut their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target 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. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.61.

Ovintiv Stock Up 4.6 %

OVV stock opened at $40.50 on Friday. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95. The business has a fifty day moving average price of $42.87 and a 200-day moving average price of $41.84. 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 stock has a market capitalization of $10.54 billion, a P/E ratio of 5.37 and a beta of 2.55.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given 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 is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) 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.