Ovintiv Inc. (NYSE:OVV) Stock Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 41.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,869 shares of the company's stock after purchasing 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 SEC filing.

Other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Ovintiv in the second quarter valued at $39,000. UMB Bank n.a. lifted its holdings in Ovintiv by 27.7% in the 3rd 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 acquired a new stake in shares of Ovintiv during the 2nd quarter worth about $69,000. Blue Trust Inc. grew its holdings in shares of Ovintiv by 24.0% during the second quarter. Blue Trust Inc. now owns 1,793 shares of the company's stock worth $93,000 after buying an additional 347 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after buying an additional 560 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Down 0.2 %

Shares of NYSE:OVV traded down $0.07 during mid-day trading on Friday, hitting $45.42. 1,158,304 shares of the company traded hands, compared to its average volume of 3,108,043. The firm's 50 day simple moving average is $41.94 and its 200 day simple moving average is $44.04. The firm has a market cap of $11.82 billion, a P/E ratio of 6.02 and a beta of 2.62. 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 52-week low of $36.90 and a 52-week high of $55.95.

Ovintiv Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. Ovintiv's dividend payout ratio is presently 15.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OVV shares. JPMorgan Chase & Co. decreased their price objective on Ovintiv from $60.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Citigroup lowered their price target on Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Truist Financial increased their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Morgan Stanley lowered their target price on shares of Ovintiv from $53.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Finally, Scotiabank increased their price target on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a research note on Monday, November 18th. Five 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.