Kingsview Wealth Management LLC Increases Stake in Ovintiv Inc. (NYSE:OVV)

Kingsview Wealth Management LLC raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 20.7% 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 201,483 shares of the company’s stock after buying an additional 34,490 shares during the quarter. Kingsview Wealth Management LLC owned about 0.08% of Ovintiv worth $7,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Drive Wealth Management LLC boosted its position in shares of Ovintiv by 2.5% during the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $395,000 after acquiring an additional 251 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after acquiring an additional 280 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock valued at $231,000 after acquiring an additional 298 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Ovintiv by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after acquiring an additional 347 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on OVV shares. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Barclays raised their price target on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI lowered their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Citigroup lowered their price target on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Finally, Royal Bank of Canada lowered their price target on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research report on Thursday, August 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Up 0.3 %

NYSE:OVV opened at $46.71 on Friday. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 6.19 and a beta of 2.62. The stock has a fifty day simple moving average of $41.38 and a 200-day simple moving average of $44.24. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.57%. Ovintiv’s dividend payout ratio is currently 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.