Ovintiv Inc. (NYSE:OVV) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in Ovintiv Inc. (NYSE:OVV) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,809 shares of the company’s stock after selling 281 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ovintiv were worth $759,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Ovintiv in the 2nd quarter valued at $39,000. UMB Bank n.a. raised its stake in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Ovintiv in the 2nd quarter valued at $69,000. Covestor Ltd raised its stake in shares of 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 acquiring an additional 560 shares during the period. Finally, Blue Trust Inc. raised 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 acquiring an additional 347 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Up 2.7 %

NYSE OVV opened at $44.97 on Tuesday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a 50-day simple moving average of $40.80 and a 200-day simple moving average of $44.36. 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 capitalization of $11.71 billion, a PE ratio of 5.96, a price-to-earnings-growth ratio of 7.97 and a beta of 2.62.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial lifted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley dropped their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. 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 note on Wednesday, October 9th. Finally, Citigroup dropped their price target on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and a consensus target price of $56.71.

About Ovintiv

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.