Ovintiv Inc. (NYSE:OVV) Shares Sold by Holocene Advisors LP

Holocene Advisors LP cut its holdings in Ovintiv Inc. (NYSE:OVV) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,398,243 shares of the company’s stock after selling 693,844 shares during the period. Holocene Advisors LP’s holdings in Ovintiv were worth $91,877,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OVV. Pacer Advisors Inc. increased its holdings in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after buying an additional 6,486,159 shares during the last quarter. Smead Capital Management Inc. boosted its position in Ovintiv by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after purchasing an additional 212,535 shares during the period. Dimensional Fund Advisors LP increased its holdings in Ovintiv by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock valued at $180,194,000 after purchasing an additional 142,296 shares in the last quarter. AQR Capital Management LLC raised its position in Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after purchasing an additional 1,618,556 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Ovintiv by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company’s stock worth $71,587,000 after purchasing an additional 133,192 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 0.2 %

OVV stock opened at $45.42 on Monday. The business has a fifty day moving average of $41.94 and a 200-day moving average of $44.04. The company has a market cap of $11.82 billion, a P/E ratio of 6.02 and a beta of 2.62. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. 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. Shareholders 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 dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. UBS Group lifted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 18th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley lowered their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank boosted their price target on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.65.

About Ovintiv

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.