EP Wealth Advisors LLC Acquires Shares of 5,578 Ovintiv Inc. (NYSE:OVV)

EP Wealth Advisors LLC bought a new position in Ovintiv Inc. (NYSE:OVV) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,578 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OVV. Drive Wealth Management LLC grew its position in Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock worth $395,000 after purchasing an additional 251 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Ovintiv by 3.7% in the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after acquiring an additional 280 shares in the last quarter. UMB Bank n.a. increased its position in shares of Ovintiv by 27.7% during the third 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 during the last quarter. OneDigital Investment Advisors LLC boosted its position in Ovintiv by 5.2% in the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after purchasing an additional 298 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in Ovintiv by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock valued at $781,000 after purchasing an additional 322 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $40.51 on Friday. The company has a 50 day moving average of $42.32 and a 200 day moving average of $43.59. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.55 billion, a P/E ratio of 5.37 and a beta of 2.63. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95.

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 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 dividend yield of 2.96%. Ovintiv’s dividend payout ratio (DPR) is currently 15.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OVV shares. Wells Fargo & Company lowered their target price on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Mizuho reduced their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Evercore ISI decreased their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Barclays upped their price objective on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup decreased their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Five research 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. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and an average target price of $56.47.

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.