Janney Montgomery Scott LLC Raises Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Janney Montgomery Scott LLC raised its stake in Ovintiv Inc. (NYSE:OVV) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,959 shares of the company’s stock after acquiring an additional 2,051 shares during the period. Janney Montgomery Scott LLC’s holdings in Ovintiv were worth $1,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James & Associates raised its holdings in shares of Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock valued at $7,529,000 after acquiring an additional 2,275 shares in the last quarter. Quarry LP grew its stake in shares of Ovintiv by 89.1% in the second quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after acquiring an additional 19,272 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Ovintiv by 25.0% during the second quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock valued at $25,090,000 after buying an additional 106,900 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Ovintiv during the first quarter valued at $1,149,000. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in shares of Ovintiv during the second quarter valued at $1,441,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on OVV. Evercore ISI lowered their target price on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Morgan Stanley lowered their target price on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Truist Financial increased their target price on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Barclays increased their target price on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group decreased their price objective on Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Five investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv Stock Down 2.1 %

Shares of OVV opened at $43.80 on Friday. The business’s 50 day moving average is $40.64 and its 200 day moving average is $44.56. The company has a market capitalization of $11.40 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 7.64 and a beta of 2.62. Ovintiv Inc. has a 12-month low of $36.90 and a 12-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.

Ovintiv Dividend Announcement

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