Jump Financial LLC Sells 122,236 Shares of Ovintiv Inc. (NYSE:OVV)

Jump Financial LLC lowered its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 83.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,900 shares of the company's stock after selling 122,236 shares during the quarter. Jump Financial LLC's holdings in Ovintiv were worth $968,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Ovintiv by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company's stock valued at $1,193,272,000 after purchasing an additional 451,947 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Ovintiv by 1,732.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after buying an additional 3,203,087 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ovintiv by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company's stock valued at $118,530,000 after buying an additional 8,168 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Ovintiv by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after buying an additional 45,147 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ovintiv by 30.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,524,743 shares of the company's stock worth $61,752,000 after buying an additional 352,368 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Price Performance

OVV stock traded up $0.17 during midday trading on Friday, reaching $34.70. The company had a trading volume of 2,328,351 shares, compared to its average volume of 3,172,478. The firm has a 50-day moving average price of $38.81 and a 200-day moving average price of $41.13. The company has a market capitalization of $9.04 billion, a P/E ratio of 4.60 and a beta of 2.04. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $53.57. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.46%. Ovintiv's payout ratio is 28.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OVV. Truist Financial boosted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, January 13th. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Ovintiv in a report on Tuesday, April 15th. Barclays lowered their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $55.76.

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.