Barclays PLC Sells 84,505 Shares of Ovintiv Inc. (NYSE:OVV)

Barclays PLC cut its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 15.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 468,997 shares of the company's stock after selling 84,505 shares during the quarter. Barclays PLC owned 0.18% of Ovintiv worth $17,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after buying an additional 636 shares in the last quarter. Innealta Capital LLC purchased a new stake in Ovintiv during the second quarter valued at about $39,000. UMB Bank n.a. boosted its holdings in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock worth $50,000 after purchasing an additional 286 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Ovintiv during the 2nd quarter valued at about $69,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Ovintiv during the 3rd quarter valued at about $65,000. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Trading Down 1.2 %

Ovintiv stock traded down $0.49 during mid-day trading on Friday, reaching $40.51. 2,403,231 shares of the company traded hands, compared to its average volume of 3,069,536. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 5.37 and a beta of 2.63. The firm's 50 day moving average price is $42.32 and its 200 day moving average price is $43.55.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv's payout ratio is currently 15.92%.

Wall Street Analyst Weigh In

Several analysts have issued reports on OVV shares. Barclays upped their target price on Ovintiv from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Mizuho cut 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. Evercore ISI decreased their target price on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. Truist Financial boosted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Siebert Williams Shank raised Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.47.

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.