Pitcairn Co. Has $398,000 Position in Ovintiv Inc. (NYSE:OVV)

Pitcairn Co. decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,391 shares of the company’s stock after selling 2,845 shares during the period. Pitcairn Co.’s holdings in Ovintiv were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in OVV. Cerity Partners LLC boosted its holdings in shares of Ovintiv by 41.3% in the 3rd quarter. Cerity Partners LLC now owns 69,869 shares of the company’s stock valued at $2,677,000 after purchasing an additional 20,412 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Ovintiv by 20.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 201,483 shares of the company’s stock worth $7,719,000 after buying an additional 34,490 shares during the last quarter. Citigroup Inc. boosted its stake in Ovintiv by 3.5% in the third quarter. Citigroup Inc. now owns 450,565 shares of the company’s stock valued at $17,261,000 after buying an additional 15,066 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Ovintiv by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company’s stock valued at $71,587,000 after acquiring an additional 133,192 shares during the last quarter. Finally, Banco Santander S.A. acquired a new position in Ovintiv during the third quarter worth about $488,000. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

OVV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada decreased their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Evercore ISI dropped their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group increased their target price on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.65.

Ovintiv Price Performance

OVV stock opened at $45.73 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 6.06 and a beta of 2.62. The company’s fifty day simple moving average is $41.62 and its 200 day simple moving average is $44.13. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95.

Ovintiv Announces Dividend

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 dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.62%. Ovintiv’s payout ratio is 15.92%.

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.