Kingsview Wealth Management LLC Has $7.72 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Kingsview Wealth Management LLC boosted its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,483 shares of the company's stock after purchasing an additional 34,490 shares during the quarter. Kingsview Wealth Management LLC owned 0.08% of Ovintiv worth $7,719,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Ovintiv in the second quarter valued at $39,000. UMB Bank n.a. raised its stake in shares of 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 buying an additional 286 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Ovintiv during the 2nd quarter worth about $69,000. Covestor Ltd boosted its position in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after acquiring an additional 560 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Ovintiv by 24.0% in the second 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 period. 83.81% of the stock is owned by institutional investors.

Ovintiv Trading Up 0.3 %

NYSE:OVV traded up $0.12 during trading hours on Friday, hitting $46.71. 2,840,282 shares of the stock were exchanged, compared to its average volume of 3,126,670. The company has a market capitalization of $12.16 billion, a P/E ratio of 6.19 and a beta of 2.62. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $41.38 and its two-hundred day moving average is $44.24. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95.

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 given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. Ovintiv's payout ratio is presently 15.92%.

Analyst Ratings Changes

OVV has been the subject of a number of analyst reports. Barclays raised their price target on shares of Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Evercore ISI dropped their target price on Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Mizuho decreased their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Finally, Citigroup cut their price objective on Ovintiv from $58.00 to $55.00 and set a "buy" rating for the company in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $56.71.

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.