Poinciana Advisors Group LLC Makes New Investment in Ovintiv Inc. (NYSE:OVV)

Poinciana Advisors Group LLC bought a new position in Ovintiv Inc. (NYSE:OVV) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,275 shares of the company’s stock, valued at approximately $214,000.

Several other large investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its position in shares of Ovintiv by 7.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 29,959 shares of the company’s stock valued at $1,148,000 after acquiring an additional 2,051 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Ovintiv by 1.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,762 shares of the company’s stock valued at $19,337,000 after acquiring an additional 5,055 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Ovintiv by 42.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after acquiring an additional 350,909 shares during the last quarter. KBC Group NV boosted its position in shares of Ovintiv by 8.9% during the 3rd quarter. KBC Group NV now owns 333,207 shares of the company’s stock valued at $12,765,000 after acquiring an additional 27,338 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock valued at $231,000 after acquiring an additional 298 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Williams Trading set a $58.00 price objective on Ovintiv in a report on Wednesday, March 5th. Finally, Citigroup decreased their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.61.

Ovintiv Price Performance

Shares of Ovintiv stock opened at $40.50 on Friday. 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 business’s 50 day simple moving average is $42.87 and its two-hundred day simple moving average is $41.85. The stock has a market capitalization of $10.54 billion, a P/E ratio of 5.37 and a beta of 2.55. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95.

Ovintiv Announces Dividend

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