11 Best Energy Stocks to Buy for Dividends in 2026

6. Ovintiv Inc. (NYSE:OVV)

Number of Hedge Fund Holders: 52

Dividend Yield as of Jan. 19: 3.02%

Next on our list of the Best Energy Stocks to Buy for Dividends is Ovintiv Inc. (NYSE:OVV), a leading North American exploration and production company focused on developing its high-quality, multi-basin portfolio.

On January 16, BofA analyst Kalei Akamine slightly nudged the firm’s price target on Ovintiv Inc. (NYSE:OVV) from $53 to $54, while keeping its ‘Buy’ rating. Given the current low-priced environment, the analyst continues to favor companies with resilient portfolios and low breakevens, enabling them to fully cover their CapEx and payouts.

Ovintiv Inc. (NYSE:OVV) is undergoing a disciplined portfolio shift, concentrating its capital into higher return assets in the Midland Basin and Western Canada. With its recent acquisition of NuVista and its plans to divest its Andarako assets, BofA expects the company’s pro forma net debt to fall well below target levels, enabling it to raise its buybacks and even head on a pathway toward a 100% cash-return framework. As a result, BofA has tapped Ovintiv as its top oil pick for 2026.

Similarly, on January 17, Jefferies analyst Lloyd Byrne also raised the firm’s price target on Ovintiv Inc. (NYSE:OVV) from $52 to $54, while maintaining a ‘Buy’ rating on the shares.