Jacobs Levy Equity Management Inc. Sells 59,144 Shares of Ovintiv Inc. (NYSE:OVV)

Jacobs Levy Equity Management Inc. decreased its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 51.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,825 shares of the company's stock after selling 59,144 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Ovintiv were worth $2,139,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its stake in Ovintiv by 3,180.0% in the third 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 bought a new stake in shares of Ovintiv during the 2nd quarter valued at approximately $39,000. UMB Bank n.a. grew its holdings in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after purchasing an additional 286 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Ovintiv during the 2nd quarter worth approximately $69,000. Finally, Transamerica Financial Advisors Inc. bought a new position in Ovintiv in the 3rd quarter valued at approximately $65,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group boosted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Wells Fargo & Company lowered their target price on Ovintiv from $51.00 to $42.00 and set an "equal weight" rating for the company in a report on Tuesday, October 1st. Evercore ISI cut their price target on Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, September 30th. Mizuho lowered their price objective on Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv has an average rating of "Moderate Buy" and an average price target of $56.65.

Ovintiv Trading Down 3.4 %

Shares of NYSE:OVV traded down $1.47 during midday trading on Friday, reaching $41.20. The company's stock had a trading volume of 3,184,770 shares, compared to its average volume of 3,115,604. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a 50 day moving average price of $42.31 and a two-hundred day moving average price of $43.81. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 5.46 and a beta of 2.63.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv's payout ratio is 15.92%.

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.