Jones Financial Companies Lllp Grows Position in Ovintiv Inc. (NYSE:OVV)

Jones Financial Companies Lllp lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 48.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,425 shares of the company’s stock after buying an additional 2,084 shares during the quarter. Jones Financial Companies Lllp’s holdings in Ovintiv were worth $260,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OVV. Franklin Resources Inc. increased its holdings in shares of Ovintiv by 16.0% in the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock valued at $11,527,000 after purchasing an additional 37,341 shares during the last quarter. Smead Capital Management Inc. boosted its stake in shares of Ovintiv by 3.5% in the third 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 during the period. Retirement Systems of Alabama increased its stake in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after buying an additional 13,536 shares during the period. KBC Group NV boosted its holdings in Ovintiv by 8.9% in the third quarter. KBC Group NV now owns 333,207 shares of the company’s stock valued at $12,765,000 after purchasing an additional 27,338 shares in the last quarter. Finally, Quest Partners LLC increased its position in Ovintiv by 449.3% during the third quarter. Quest Partners LLC now owns 42,109 shares of the company’s stock worth $1,613,000 after buying an additional 34,443 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on OVV. Barclays boosted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Citigroup reduced their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. UBS Group lowered their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Finally, Scotiabank increased their price target on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.94.

Ovintiv Stock Performance

Shares of NYSE OVV opened at $39.80 on Thursday. The company has a market capitalization of $10.36 billion, a P/E ratio of 5.28 and a beta of 2.55. The business’s 50-day moving average price is $42.96 and its two-hundred day moving average price is $41.89. Ovintiv Inc. has a one year low of $36.62 and a one year high of $55.95. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.02%. Ovintiv’s dividend payout ratio is currently 28.57%.

About Ovintiv

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.