Napatree Capital LLC Has $407,000 Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Napatree Capital LLC grew its stake in Ovintiv Inc. (NYSE:OVV) by 25.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,046 shares of the company’s stock after buying an additional 2,026 shares during the period. Napatree Capital LLC’s holdings in Ovintiv were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in OVV. True Wealth Design LLC grew its stake in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its stake in Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after purchasing an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its stake in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after purchasing an additional 940 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on OVV. National Bankshares raised their target price on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Citigroup reduced their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Truist Financial raised their price objective on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $58.00 price objective on Ovintiv in a research note on Wednesday, March 5th. Finally, Scotiabank raised Ovintiv to a “strong-buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $41.52 on Friday. The business’s fifty day simple moving average is $42.80 and its 200 day simple moving average is $41.80. The firm has a market capitalization of $10.81 billion, a P/E ratio of 5.51 and a beta of 2.55. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued 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 2.89%. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

Ovintiv Company 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.