Ovintiv Inc. (NYSE:OVV) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in shares of Ovintiv Inc. (NYSE:OVV) by 88.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,337 shares of the company’s stock after acquiring an additional 5,315 shares during the period. Advisors Asset Management Inc.’s holdings in Ovintiv were worth $434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Drive Wealth Management LLC grew its stake in Ovintiv by 2.5% in the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock worth $395,000 after purchasing an additional 251 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock worth $304,000 after buying an additional 280 shares during the last quarter. UMB Bank n.a. grew its position in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Ovintiv by 5.2% in 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. Finally, Blue Trust Inc. raised its position in shares of Ovintiv by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $45.49 on Thursday. The firm’s 50-day simple moving average is $41.74 and its 200 day simple moving average is $44.14. The stock has a market cap of $11.84 billion, a P/E ratio of 6.03 and a beta of 2.62. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio is currently 15.92%.

Wall Street Analyst Weigh In

Several research firms have weighed in on OVV. Royal Bank of Canada lowered their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Mizuho lowered their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company cut their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Citigroup lowered their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Truist Financial raised their price target on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.65.

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.