Prudent Man Advisors LLC Purchases New Holdings in Ovintiv Inc. (NYSE:OVV)

Prudent Man Advisors LLC acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 13,046 shares of the company’s stock, valued at approximately $500,000.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Ovintiv during the 2nd quarter worth approximately $39,000. UMB Bank n.a. raised 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 worth $50,000 after buying an additional 286 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Ovintiv during the 2nd quarter worth $69,000. Covestor Ltd raised its stake in Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock worth $81,000 after acquiring an additional 293 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Ovintiv by 24.0% in the second 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 last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $43.79 on Monday. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The stock’s 50 day moving average is $40.71 and its 200-day moving average is $44.41. 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 capitalization of $11.40 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 7.97 and a beta of 2.62.

Ovintiv Dividend Announcement

The firm also recently disclosed 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 is currently 15.92%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OVV. Mizuho cut their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their target price on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Truist Financial upped their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Citigroup cut 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. Finally, UBS Group decreased their price target 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 research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv 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.