12 Best Crude Oil Stocks to Buy for Dividends

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5. Ovintiv Inc. (NYSE:OVV)

Number of Hedge Fund Holders: 52

Dividend Yield as of Dec. 25: 3.15%

Next on our list of the Best Oil 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 December 12, UBS slightly raised its price target on Ovintiv Inc. (NYSE:OVV) from $54 to $55, while maintaining a ‘Buy’ rating on the shares. The analyst noted that the energy sector seems well-positioned for a stronger 2026 after three years of limited gains. The firm expects the sector’s growth to be driven by an improving oil and natural gas outlook, M&A-driven value creation, cost and capex efficiencies, emerging OFS opportunities, and attractive valuations. While natural gas and E&P stocks are favored, the positive momentum is also expected to spread broadly across oil E&Ps and OFS.

In other positive news, it was reported on December 15 that Ovintiv Inc. (NYSE:OVV) has signed a 12-year agreement with Pembina Pipeline Corp. for 500,000 metric tons/year of liquefaction capacity at the latter’s Cedar LNG facility. The $4 billion floating LNG project is expected to come online in late 2028 and will provide Ovintiv with access to additional export markets in Asia.

The share price of Ovintiv Inc. (NYSE:OVV) has fallen by over 8% since the beginning of 2025.

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