Manning & Napier Advisors LLC Acquires Shares of 37,708 Ovintiv Inc. $OVV

Manning & Napier Advisors LLC acquired a new position in Ovintiv Inc. (NYSE:OVV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,708 shares of the company’s stock, valued at approximately $2,238,000.

Other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position in shares of Ovintiv by 70.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock worth $391,000 after purchasing an additional 3,788 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Ovintiv during the first quarter worth approximately $202,000. Focus Partners Wealth boosted its stake in Ovintiv by 49.3% in the first quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock valued at $825,000 after acquiring an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Ovintiv by 47.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock worth $78,000 after acquiring an additional 589 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Ovintiv by 103.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,298 shares of the company’s stock valued at $126,000 after acquiring an additional 1,675 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OVV has been the topic of several recent research reports. Morgan Stanley reduced their price target on Ovintiv from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. National Bank Financial increased their target price on Ovintiv from $82.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upgraded Ovintiv from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $57.00 to $80.00 in a report on Monday, June 22nd. UBS Group decreased their target price on Ovintiv from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, Citigroup reiterated a “neutral” rating and issued a $62.00 price target (up from $52.00) on shares of Ovintiv in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $64.37.

Ovintiv Trading Down 0.1%

NYSE OVV opened at $55.47 on Monday. The firm has a market cap of $15.59 billion, a P/E ratio of 17.89 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s 50-day moving average is $56.54 and its 200-day moving average is $51.81. Ovintiv Inc. has a one year low of $35.47 and a one year high of $63.46.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv’s payout ratio is currently 38.71%.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.