U.S. Capital Wealth Advisors LLC Has $5.15 Million Holdings in Ovintiv Inc. (NYSE:OVV)

U.S. Capital Wealth Advisors LLC decreased its stake in Ovintiv Inc. (NYSE:OVV) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,298 shares of the company’s stock after selling 3,988 shares during the period. U.S. Capital Wealth Advisors LLC owned approximately 0.05% of Ovintiv worth $5,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OVV. UMB Bank n.a. grew its position in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares during the last quarter. Covestor Ltd increased its stake in Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after acquiring an additional 293 shares during the period. Geneos Wealth Management Inc. raised its holdings in Ovintiv by 53.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Ovintiv by 24.0% in 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. Finally, Cetera Investment Advisers grew its holdings in shares of Ovintiv by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 37,466 shares of the company’s stock worth $1,756,000 after purchasing an additional 353 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on OVV shares. Wolfe Research started coverage on Ovintiv in a research report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 target price for the company. Morgan Stanley reduced their price objective 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. Citigroup decreased their target price on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Truist Financial dropped their price target on shares of Ovintiv from $62.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, UBS Group cut their target price on Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv Trading Down 1.7 %

OVV traded down $0.67 during mid-day trading on Wednesday, reaching $39.75. The stock had a trading volume of 426,627 shares, compared to its average volume of 3,089,053. The stock has a market capitalization of $10.48 billion, a P/E ratio of 5.68, a P/E/G ratio of 7.84 and a beta of 2.61. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The firm’s fifty day simple moving average is $41.31 and its two-hundred day simple moving average is $45.94.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.53 billion. On average, equities analysts predict that Ovintiv Inc. will post 4.87 EPS for the current year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 3.02%. Ovintiv’s dividend payout ratio is currently 16.93%.

About Ovintiv

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.