Glenmede Trust Co. NA Has $12.76 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Glenmede Trust Co. NA grew its holdings in Ovintiv Inc. (NYSE:OVV) by 2,105.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 333,150 shares of the company’s stock after purchasing an additional 318,041 shares during the period. Glenmede Trust Co. NA’s holdings in Ovintiv were worth $12,763,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Innealta Capital LLC purchased a new position in Ovintiv during the second quarter valued at approximately $39,000. UMB Bank n.a. grew its holdings in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Ovintiv in the second quarter worth $69,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Ovintiv during the third quarter worth $65,000. Finally, Blue Trust Inc. boosted its position in 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 during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Stock Down 0.5 %

Shares of OVV stock opened at $45.49 on Friday. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. 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 firm has a market cap of $11.84 billion, a PE ratio of 6.03 and a beta of 2.62. The stock has a 50 day moving average of $41.84 and a 200-day moving average of $44.15.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s payout ratio is currently 15.92%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays upped their target price on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Scotiabank raised their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Royal Bank of Canada decreased their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. 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 note on Monday, September 30th. Finally, Citigroup reduced their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.