Canandaigua National Bank & Trust Co. Sells 23,679 Shares of Ovintiv Inc. (NYSE:OVV)

Canandaigua National Bank & Trust Co. cut its stake in shares of Ovintiv Inc. (NYSE:OVV) by 77.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,022 shares of the company’s stock after selling 23,679 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Ovintiv were worth $284,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Ovintiv in the third quarter valued at approximately $65,000. Covestor Ltd raised its holdings in 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 buying an additional 560 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in Ovintiv during the 3rd quarter worth approximately $122,000. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OVV has been the subject of several recent research reports. Barclays upped their price target on shares of Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. UBS Group lowered their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Evercore ISI reduced their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company lowered their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. reduced their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Five investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.59.

Ovintiv Trading Down 1.0 %

NYSE:OVV opened at $41.38 on Tuesday. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 5.49 and a beta of 2.63. The firm has a fifty day simple moving average of $41.75 and a two-hundred day simple moving average of $42.62. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

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.