Charles Schwab Investment Management Inc. Has $71.59 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Charles Schwab Investment Management Inc. boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 7.7% in the third quarter, HoldingsChannel reports. The firm owned 1,868,627 shares of the company’s stock after purchasing an additional 133,192 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ovintiv were worth $71,587,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Ovintiv in the 2nd quarter valued at $39,000. UMB Bank n.a. increased its stake in Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Ovintiv during the second quarter valued at about $69,000. Blue Trust Inc. grew its stake in shares of Ovintiv by 24.0% in the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after buying an additional 347 shares during the period. Finally, Covestor Ltd increased its position in Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Truist Financial boosted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada reduced their price objective on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, Mizuho dropped their price target 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. Five investment 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’s stock. According to MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and a consensus target price of $56.65.

Ovintiv Stock Performance

Shares of OVV stock opened at $45.49 on Friday. 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 firm has a market cap of $11.84 billion, a price-to-earnings ratio of 6.03 and a beta of 2.62. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The firm’s 50-day simple moving average is $41.84 and its two-hundred day simple moving average is $44.15.

Ovintiv Announces Dividend

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

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.