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

Swiss National Bank decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,400 shares of the company’s stock after selling 4,000 shares during the period. Swiss National Bank’s holdings in Ovintiv were worth $30,357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Ovintiv by 4.5% during the first quarter. US Bancorp DE now owns 8,914 shares of the company’s stock valued at $463,000 after buying an additional 386 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Ovintiv in the 1st quarter worth approximately $233,000. Acadian Asset Management LLC raised its holdings in shares of Ovintiv by 1,228.3% in the 1st quarter. Acadian Asset Management LLC now owns 8,063 shares of the company’s stock worth $418,000 after purchasing an additional 7,456 shares in the last quarter. Covestor Ltd lifted its stake in Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after purchasing an additional 293 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Ovintiv by 3.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,319 shares of the company’s stock worth $1,158,000 after buying an additional 835 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OVV shares. Evercore ISI cut their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Morgan Stanley dropped their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Mizuho dropped their target price on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price target on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Performance

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

Ovintiv Dividend Announcement

The firm also recently disclosed 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. This represents a $1.20 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is presently 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.