Ovintiv Inc. (NYSE:OVV) Holdings Lifted by US Bancorp DE

US Bancorp DE grew its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,890 shares of the company’s stock after buying an additional 1,209 shares during the period. US Bancorp DE’s holdings in Ovintiv were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ovintiv during the 1st quarter worth $1,273,000. Janney Montgomery Scott LLC grew its position in Ovintiv by 17.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,770 shares of the company’s stock valued at $1,337,000 after buying an additional 3,911 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Ovintiv during the 1st quarter valued at about $214,000. Oppenheimer Asset Management Inc. raised its position in shares of Ovintiv by 23.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,063 shares of the company’s stock worth $886,000 after buying an additional 3,267 shares in the last quarter. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of Ovintiv in the 1st quarter worth approximately $228,000. 83.81% of the stock is owned by institutional investors.

Ovintiv Trading Down 1.7 %

Shares of Ovintiv stock opened at $41.95 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a 50-day moving average of $40.52 and a 200-day moving average of $44.66. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The stock has a market cap of $11.06 billion, a PE ratio of 5.66, a PEG ratio of 8.22 and a beta of 2.62.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. Ovintiv’s dividend payout ratio (DPR) is 15.92%.

Wall Street Analyst Weigh In

OVV has been the subject of several research reports. UBS Group decreased their target price on Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Morgan Stanley lowered their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company cut their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Truist Financial cut their target price on Ovintiv from $62.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.00.

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.