Avantax Advisory Services Inc. Has $292,000 Stake in Ovintiv Inc. (NYSE:OVV)

Avantax Advisory Services Inc. lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 16.9% during the 4th quarter, HoldingsChannel reports. The firm owned 7,199 shares of the company’s stock after selling 1,461 shares during the period. Avantax Advisory Services Inc.’s holdings in Ovintiv were worth $292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its position in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after purchasing an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after buying an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its stake in Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after acquiring an additional 940 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several research reports. UBS Group decreased their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. National Bankshares increased their target price on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $57.00 in a research note on Monday. Finally, Williams Trading set a $58.00 price target on Ovintiv in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.79.

Ovintiv Stock Performance

Shares of OVV stock opened at $43.77 on Wednesday. The stock has a market capitalization of $11.40 billion, a PE ratio of 5.81 and a beta of 2.55. The business’s 50 day simple moving average is $42.75 and its 200 day simple moving average is $41.84. 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 one year low of $36.62 and a one year high of $55.95.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

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.