Stifel Financial Corp Acquires 322 Shares of Ovintiv Inc. (NYSE:OVV)

Stifel Financial Corp boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 1.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 20,385 shares of the company’s stock after acquiring an additional 322 shares during the quarter. Stifel Financial Corp’s holdings in Ovintiv were worth $781,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares during the last quarter. Innealta Capital LLC bought a new position in Ovintiv during the second quarter worth $39,000. UMB Bank n.a. raised its position in shares of Ovintiv by 27.7% in the third 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 period. Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv during the 3rd quarter worth about $65,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ovintiv during the 2nd quarter worth about $69,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OVV shares. Truist Financial upped their target price on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Citigroup dropped their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Morgan Stanley decreased their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $56.59.

Ovintiv Trading Up 1.7 %

Shares of OVV stock opened at $38.76 on Wednesday. The company has a market cap of $10.09 billion, a P/E ratio of 5.14 and a beta of 2.63. The stock has a 50 day simple moving average of $41.81 and a two-hundred day simple moving average of $43.11. 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 Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95.

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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 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.