Cornercap Investment Counsel Inc. Has $428,000 Stock Position in Ovintiv Inc. (NYSE:OVV)

Cornercap Investment Counsel Inc. reduced its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 54.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,169 shares of the company's stock after selling 13,428 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Ovintiv were worth $428,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Ovintiv in the 2nd quarter valued at about $39,000. UMB Bank n.a. raised its stake in 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 buying an additional 286 shares during the period. International Assets Investment Management LLC bought a new stake in Ovintiv in the second quarter valued at approximately $69,000. Covestor Ltd lifted 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. Finally, Blue Trust Inc. boosted its stake in shares of Ovintiv by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company's stock worth $93,000 after acquiring an additional 347 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analyst Weigh In

OVV has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price objective 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. Barclays lifted their target price on shares of Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Friday. Citigroup decreased their price target on shares of Ovintiv from $58.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, October 7th. Finally, UBS Group cut their price objective on shares of Ovintiv from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.00.

Ovintiv Trading Down 2.1 %

OVV opened at $43.79 on Friday. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 5.81, a P/E/G ratio of 7.97 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. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company has a 50-day simple moving average of $40.71 and a 200 day simple moving average of $44.45.

Ovintiv Announces Dividend

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 issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, December 13th. Ovintiv's dividend payout ratio (DPR) is presently 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.