Janney Montgomery Scott LLC Has $1.15 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Janney Montgomery Scott LLC raised its stake in Ovintiv Inc. (NYSE:OVV) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,959 shares of the company’s stock after acquiring an additional 2,051 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ovintiv were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake 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 valued at $50,000 after purchasing an additional 286 shares during the last quarter. Covestor Ltd raised its holdings in shares of Ovintiv by 23.1% in the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after purchasing an additional 293 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Ovintiv by 24.0% in the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after purchasing an additional 347 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Ovintiv by 1.0% in the second quarter. Cetera Investment Advisers now owns 37,466 shares of the company’s stock valued at $1,756,000 after purchasing an additional 353 shares during the last quarter. Finally, Signaturefd LLC increased 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 buying an additional 376 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Down 2.1 %

Shares of Ovintiv stock opened at $43.80 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $11.40 billion, a P/E ratio of 5.87, a P/E/G ratio of 7.64 and a beta of 2.62. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The stock’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $44.56.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is presently 15.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OVV. Mizuho lowered their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada reduced 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 report on Thursday, August 1st. Evercore ISI cut their price objective on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their target price on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.