Ovintiv Inc. (NYSE:OVV) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 88.3% during the third quarter, Holdings Channel.com reports. The fund owned 11,337 shares of the company’s stock after acquiring an additional 5,315 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ovintiv were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Ovintiv in the 3rd quarter worth approximately $215,000. Smead Capital Management Inc. boosted its holdings in Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after buying an additional 212,535 shares in the last quarter. Pathstone Holdings LLC grew its position in Ovintiv by 82.2% in the third quarter. Pathstone Holdings LLC now owns 41,645 shares of the company’s stock worth $1,595,000 after buying an additional 18,783 shares during the last quarter. Drive Wealth Management LLC increased its holdings in shares of Ovintiv by 2.5% in the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $395,000 after buying an additional 251 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Ovintiv by 449.3% during the 3rd quarter. Quest Partners LLC now owns 42,109 shares of the company’s stock valued at $1,613,000 after acquiring an additional 34,443 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OVV has been the topic of a number of recent research reports. Barclays lifted their target price on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank lifted their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Finally, Mizuho decreased their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.65.

Ovintiv Price Performance

OVV opened at $45.49 on Thursday. 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 Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The stock has a fifty day moving average price of $41.74 and a 200 day moving average price of $44.14. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 6.03 and a beta of 2.62.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. Ovintiv’s payout ratio is 15.92%.

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.