EverSource Wealth Advisors LLC Has $46,000 Stake in Ovintiv Inc. (NYSE:OVV)

EverSource Wealth Advisors LLC raised its stake in Ovintiv Inc. (NYSE:OVV) by 451.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,148 shares of the company’s stock after purchasing an additional 940 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ovintiv were worth $46,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its position in Ovintiv by 5.2% during 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 period. CIBC Asset Management Inc raised its holdings in Ovintiv by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after buying an additional 280 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Ovintiv by 1.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 148,384 shares of the company’s stock valued at $5,684,000 after buying an additional 1,891 shares during the last quarter. Pathstone Holdings LLC raised its holdings in Ovintiv by 82.2% in the 3rd quarter. Pathstone Holdings LLC now owns 41,645 shares of the company’s stock valued at $1,595,000 after buying an additional 18,783 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Ovintiv during the 3rd quarter valued at approximately $215,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Performance

NYSE OVV opened at $42.39 on Thursday. The stock has a market capitalization of $11.04 billion, a PE ratio of 5.62 and a beta of 2.55. The business has a 50 day simple moving average of $42.85 and a two-hundred day simple moving average of $41.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 1-year low of $36.62 and a 1-year high of $55.95.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Citigroup cut their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Williams Trading set a $58.00 target price on Ovintiv in a report on Wednesday, March 5th. National Bankshares raised their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $56.61.

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.