Cerity Partners LLC Buys 20,412 Shares of Ovintiv Inc. (NYSE:OVV)

Cerity Partners LLC increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 41.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,869 shares of the company’s stock after buying an additional 20,412 shares during the period. Cerity Partners LLC’s holdings in Ovintiv were worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC increased its stake in shares of Ovintiv by 20.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 201,483 shares of the company’s stock worth $7,719,000 after purchasing an additional 34,490 shares during the last quarter. Citigroup Inc. grew its holdings in Ovintiv by 3.5% during the third quarter. Citigroup Inc. now owns 450,565 shares of the company’s stock worth $17,261,000 after purchasing an additional 15,066 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Ovintiv by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company’s stock worth $71,587,000 after purchasing an additional 133,192 shares during the period. Banco Santander S.A. acquired a new position in Ovintiv during the third quarter worth approximately $488,000. Finally, Pacer Advisors Inc. raised its stake in Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after buying an additional 6,486,159 shares during the period. 83.81% of the stock is owned by institutional investors.

Ovintiv Stock Down 0.2 %

Shares of NYSE OVV opened at $45.42 on Friday. The stock has a market capitalization of $11.82 billion, a P/E ratio of 6.02 and a beta of 2.62. The stock’s fifty day moving average is $41.94 and its 200 day moving average is $44.08. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is presently 15.92%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OVV shares. Truist Financial boosted their target price on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. UBS Group raised their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Mizuho decreased their price target on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price objective on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Five 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. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.65.

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.