Everence Capital Management Inc. Invests $449,000 in Ovintiv Inc. (NYSE:OVV)

Everence Capital Management Inc. acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,090 shares of the company’s stock, valued at approximately $449,000.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings 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 worth $25,000 after acquiring an additional 636 shares during the period. UMB Bank n.a. boosted its position 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. Transamerica Financial Advisors Inc. acquired a new stake in Ovintiv in the third quarter valued at $65,000. Covestor Ltd increased its position in shares of Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Ovintiv during the 3rd quarter worth $122,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OVV shares. Mizuho dropped their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Citigroup cut their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. UBS Group lowered their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Barclays boosted their price target on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company dropped their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average price target of $56.59.

Ovintiv Trading Up 0.4 %

Shares of OVV opened at $41.79 on Monday. The stock’s fifty day simple moving average is $41.70 and its 200 day simple moving average is $42.66. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.88 billion, a P/E ratio of 5.54 and a beta of 2.63.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s dividend payout ratio is currently 15.92%.

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.