Orion Portfolio Solutions LLC Buys 2,244 Shares of Ovintiv Inc. (NYSE:OVV)

Orion Portfolio Solutions LLC grew its position in shares of Ovintiv Inc. (NYSE:OVV) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,304 shares of the company’s stock after purchasing an additional 2,244 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Ovintiv were worth $1,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates increased its position in shares of Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after buying an additional 2,275 shares during the period. Quarry LP grew its holdings in Ovintiv by 89.1% during the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after acquiring an additional 19,272 shares during the period. Smead Capital Management Inc. raised its position in shares of Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after acquiring an additional 212,535 shares in the last quarter. Entropy Technologies LP lifted its stake in shares of Ovintiv by 319.9% in the 3rd quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock valued at $5,726,000 after purchasing an additional 113,866 shares during the period. Finally, KBC Group NV boosted its position in shares of Ovintiv by 8.9% during the 3rd quarter. KBC Group NV now owns 333,207 shares of the company’s stock valued at $12,765,000 after purchasing an additional 27,338 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

OVV has been the subject of a number of research analyst reports. Barclays lifted their target price on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. dropped their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Truist Financial increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company cut 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued 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 $56.47.

Ovintiv Stock Down 1.2 %

OVV stock opened at $40.50 on Friday. The stock’s 50 day moving average is $42.32 and its 200-day moving average is $43.63. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The firm has a market capitalization of $10.54 billion, a PE ratio of 5.37 and a beta of 2.63. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.96%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio is 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.