Prospera Financial Services Inc Trims Stock Position in Ovintiv Inc. (NYSE:OVV)

Prospera Financial Services Inc lessened its stake in Ovintiv Inc. (NYSE:OVV) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,082 shares of the company’s stock after selling 2,011 shares during the period. Prospera Financial Services Inc’s holdings in Ovintiv were worth $233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates grew its stake in Ovintiv by 1.2% in the 3rd quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after buying an additional 2,275 shares in the last quarter. Quarry LP grew its stake in Ovintiv by 89.1% in the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after buying an additional 19,272 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Ovintiv by 25.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock worth $25,090,000 after buying an additional 106,900 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Ovintiv in the 1st quarter worth approximately $1,149,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in Ovintiv in the 2nd quarter worth approximately $1,441,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OVV shares. Scotiabank boosted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Morgan Stanley lowered their price objective 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. Mizuho lowered their price objective 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. UBS Group boosted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Down 2.0 %

Shares of Ovintiv stock opened at $45.76 on Tuesday. 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 company’s fifty day simple moving average is $41.51 and its two-hundred day simple moving average is $44.16. The company has a market cap of $11.91 billion, a P/E ratio of 6.07 and a beta of 2.62. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95.

Ovintiv Announces Dividend

The firm 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio is presently 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.