Robeco Institutional Asset Management B.V. Reduces Position in Ovintiv Inc. (NYSE:OVV)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,504 shares of the company’s stock after selling 3,361 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ovintiv were worth $1,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates raised its stake in shares of Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock valued at $7,529,000 after acquiring an additional 2,275 shares in the last quarter. Quarry LP raised its stake in shares of Ovintiv by 89.1% during the second quarter. Quarry LP now owns 40,902 shares of the company’s stock valued at $1,917,000 after acquiring an additional 19,272 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Ovintiv by 25.0% during 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 in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Ovintiv during the first quarter valued at approximately $1,149,000. Finally, Canandaigua National Bank & Trust Co. bought a new stake in shares of Ovintiv during the second quarter valued at approximately $1,441,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

NYSE:OVV opened at $43.17 on Friday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 7.99 and a beta of 2.62. The firm’s fifty day moving average is $40.52 and its two-hundred day moving average is $44.85.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 16.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Mizuho reduced their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Wolfe Research initiated coverage on shares of Ovintiv in a research note on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price objective for the company. Evercore ISI reduced their price objective on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, UBS Group reduced their price objective on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv 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.