Gallacher Capital Management LLC Increases Stock Position in Ovintiv Inc. (NYSE:OVV)

Gallacher Capital Management LLC boosted its stake in Ovintiv Inc. (NYSE:OVV) by 18.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,562 shares of the company’s stock after buying an additional 1,937 shares during the quarter. Gallacher Capital Management LLC’s holdings in Ovintiv were worth $509,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after purchasing an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. lifted its holdings in Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after purchasing an additional 212,535 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ovintiv by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after purchasing an additional 205,409 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Ovintiv by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock valued at $118,530,000 after purchasing an additional 8,168 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Williams Trading set a $58.00 price target on Ovintiv in a research note on Wednesday, March 5th. UBS Group reduced their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Citigroup reduced their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, National Bankshares increased their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Four 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. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.61.

Ovintiv Trading Up 4.6 %

NYSE:OVV opened at $40.50 on Friday. The business’s 50-day moving average is $42.87 and its two-hundred day moving average is $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. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. The firm has a market capitalization of $10.54 billion, a PE ratio of 5.37 and a beta of 2.55.

Ovintiv Announces Dividend

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