Transamerica Financial Advisors Inc. Acquires Shares of 1,689 Ovintiv Inc. (NYSE:OVV)

Transamerica Financial Advisors Inc. acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,689 shares of the company’s stock, valued at approximately $65,000.

Other large investors also recently bought and sold shares of the company. Raymond James & Associates grew its position in Ovintiv by 1.2% in the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock valued at $7,529,000 after acquiring an additional 2,275 shares in the last quarter. Quarry LP grew its position in Ovintiv by 89.1% in the second quarter. Quarry LP now owns 40,902 shares of the company’s stock valued at $1,917,000 after acquiring an additional 19,272 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Ovintiv by 25.0% in the second quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock valued at $25,090,000 after acquiring an additional 106,900 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in Ovintiv in the second quarter valued at approximately $1,441,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Ovintiv in the first quarter valued at approximately $1,149,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

OVV stock opened at $45.49 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 6.03 and a beta of 2.62. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The stock’s fifty day moving average is $41.74 and its two-hundred day moving average is $44.14.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Analysts Set New Price Targets

OVV has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays raised their price target on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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 report on Monday, September 30th. Finally, Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $56.65.

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.