Ovintiv Inc. (NYSE:OVV) Stake Boosted by Stifel Financial Corp

Stifel Financial Corp increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,385 shares of the company’s stock after acquiring an additional 322 shares during the period. Stifel Financial Corp’s holdings in Ovintiv were worth $781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after purchasing an additional 636 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Ovintiv in the second quarter worth about $39,000. UMB Bank n.a. boosted its stake in shares of Ovintiv by 27.7% during 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. Transamerica Financial Advisors Inc. acquired a new position in shares of Ovintiv during the 3rd quarter valued at about $65,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ovintiv during the 2nd quarter valued at about $69,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 1.7 %

NYSE:OVV opened at $38.76 on Wednesday. The stock’s fifty day moving average price is $41.81 and its two-hundred day moving average price is $43.11. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 5.14 and a beta of 2.63. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 3.10%. Ovintiv’s payout ratio is currently 15.92%.

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price objective on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Morgan Stanley dropped their target price on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. UBS Group decreased their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Finally, Evercore ISI dropped their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Five equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.59.

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.