Summit Investment Advisors Inc. Purchases 25,469 Shares of Ovintiv Inc. (NYSE:OVV)

Summit Investment Advisors Inc. lifted its position in shares of Ovintiv Inc. (NYSE:OVV) by 47.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,642 shares of the company’s stock after acquiring an additional 25,469 shares during the period. Summit Investment Advisors Inc.’s holdings in Ovintiv were worth $3,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ninepoint Partners LP lifted its stake in Ovintiv by 16.9% during the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock worth $9,112,000 after purchasing an additional 32,500 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Ovintiv by 16.0% during the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after buying an additional 37,341 shares in the last quarter. Westpac Banking Corp lifted its position in shares of Ovintiv by 64.8% during the 4th quarter. Westpac Banking Corp now owns 31,369 shares of the company’s stock worth $1,270,000 after buying an additional 12,340 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Ovintiv by 4.4% in the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock valued at $12,288,000 after buying an additional 13,536 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Ovintiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after acquiring an additional 45,147 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 3.3 %

Ovintiv stock opened at $32.77 on Monday. The firm has a 50 day moving average price of $40.67 and a two-hundred day moving average price of $41.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $54.23. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 4.35 and a beta of 2.04.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.66%. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Ratings Changes

A number of research analysts have recently commented on OVV shares. Truist Financial increased their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. BMO Capital Markets raised shares of Ovintiv from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $57.00 in a research note on Monday, March 24th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. Wells Fargo & Company increased their price target on Ovintiv from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Finally, National Bankshares boosted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Ovintiv has an average rating of “Buy” and a consensus target price of $56.47.

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.