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

Holocene Advisors LP decreased its position in Ovintiv Inc. (NYSE:OVV) by 22.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,398,243 shares of the company’s stock after selling 693,844 shares during the period. Holocene Advisors LP owned approximately 0.92% of Ovintiv worth $91,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Ovintiv during the first quarter worth about $396,000. Tidal Investments LLC increased its holdings in Ovintiv by 7.0% in the first quarter. Tidal Investments LLC now owns 7,648 shares of the company’s stock valued at $397,000 after buying an additional 497 shares in the last quarter. Atria Investments Inc raised its position in shares of Ovintiv by 6.6% in the first quarter. Atria Investments Inc now owns 43,911 shares of the company’s stock worth $2,279,000 after acquiring an additional 2,722 shares during the period. Cetera Investment Advisers boosted its stake in shares of Ovintiv by 678.9% during the 1st quarter. Cetera Investment Advisers now owns 37,113 shares of the company’s stock worth $1,926,000 after acquiring an additional 32,348 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Ovintiv by 16.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,684 shares of the company’s stock valued at $173,000 after purchasing an additional 514 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $45.42 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 6.02 and a beta of 2.62. The company’s 50-day moving average price is $41.94 and its 200 day moving average price is $44.04. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.

Ovintiv Announces Dividend

The business also recently declared 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 yield of 2.64%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Citigroup dropped their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Truist Financial lifted their price objective on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, UBS Group increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Five investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.