Transamerica Financial Advisors Inc. Buys Shares of 1,689 Ovintiv Inc. (NYSE:OVV)

Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,689 shares of the company’s stock, valued at approximately $65,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OVV. Innealta Capital LLC bought a new stake in shares of Ovintiv during the second quarter valued at about $39,000. UMB Bank n.a. raised its stake in shares of Ovintiv by 27.7% during 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 in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Ovintiv during the second quarter valued at about $69,000. Covestor Ltd raised its stake in shares of Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after purchasing an additional 560 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Ovintiv by 24.0% during the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after purchasing an additional 347 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Trading Down 0.5 %

Shares of OVV opened at $45.49 on Thursday. The business’s 50-day moving average price is $41.74 and its 200 day moving average price is $44.14. The stock has a market capitalization of $11.84 billion, a P/E ratio of 6.03 and a beta of 2.62. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.64%. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OVV shares. Scotiabank lifted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. Citigroup dropped their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company dropped their price target on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Finally, Evercore ISI dropped their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Five equities research 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. Based on data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and an average 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.