Ovintiv Inc. (NYSE:OVV) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,809 shares of the company’s stock after selling 281 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ovintiv were worth $759,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. UMB Bank n.a. raised its holdings in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares in the last quarter. Covestor Ltd raised its holdings in Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock worth $81,000 after purchasing an additional 293 shares in the last quarter. Blue Trust Inc. raised its holdings in Ovintiv by 24.0% during the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock worth $93,000 after purchasing an additional 347 shares in the last quarter. Cetera Investment Advisers raised its holdings in Ovintiv by 1.0% during the second quarter. Cetera Investment Advisers now owns 37,466 shares of the company’s stock worth $1,756,000 after purchasing an additional 353 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Ovintiv by 2.1% during the second quarter. Signaturefd LLC now owns 18,288 shares of the company’s stock worth $857,000 after purchasing an additional 376 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OVV. Barclays increased their target price on shares of Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley dropped their target price on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company dropped their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, Mizuho dropped their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

Ovintiv Stock Up 2.7 %

Shares of NYSE OVV opened at $44.97 on Tuesday. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The firm’s 50 day moving average price is $40.80 and its 200 day moving average price is $44.36. The firm has a market cap of $11.71 billion, a P/E ratio of 5.96, a price-to-earnings-growth ratio of 7.97 and a beta of 2.62. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%. Ovintiv’s dividend payout ratio (DPR) is currently 15.92%.

Ovintiv 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.