Ovintiv Inc. (NYSE:OVV) Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 792,400 shares of the company’s stock after selling 4,000 shares during the quarter. Swiss National Bank owned approximately 0.30% of Ovintiv worth $30,357,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OVV. Raymond James & Associates boosted its holdings in shares of Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after purchasing an additional 2,275 shares during the last quarter. Quarry LP raised its position in shares of Ovintiv by 89.1% in the 2nd quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after buying an additional 19,272 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Ovintiv by 25.0% in the second quarter. Wedge Capital Management L L P NC now owns 535,304 shares of the company’s stock valued at $25,090,000 after acquiring an additional 106,900 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Ovintiv during the first quarter valued at about $1,149,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in Ovintiv during the second quarter worth about $1,441,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Up 2.6 %

Shares of NYSE:OVV opened at $45.75 on Thursday. The company’s 50-day moving average price is $41.06 and its 200 day moving average price is $44.32. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a market cap of $11.91 billion, a PE ratio of 6.07 and a beta of 2.62. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio is currently 15.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Barclays increased their target price on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Mizuho dropped their price objective 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. Citigroup decreased their target price on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Finally, UBS Group raised their target price on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

Ovintiv Company 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.