Machina Capital S.A.S. Sells 13,558 Shares of Ovintiv Inc. (NYSE:OVV)

Machina Capital S.A.S. lowered its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 60.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,057 shares of the company's stock after selling 13,558 shares during the quarter. Machina Capital S.A.S.'s holdings in Ovintiv were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Ovintiv by 71.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after buying an additional 335 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after buying an additional 1,000 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in Ovintiv by 4,132.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock worth $53,000 after acquiring an additional 1,281 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OVV. UBS Group dropped their target price on Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Truist Financial upped their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Scotiabank increased their target price 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. Williams Trading set a $58.00 price target on shares of Ovintiv in a report on Wednesday, March 5th. Finally, Barclays increased their price objective on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.94.

Ovintiv Stock Performance

Shares of Ovintiv stock traded up $0.86 on Wednesday, reaching $39.80. The stock had a trading volume of 3,820,747 shares, compared to its average volume of 2,858,514. Ovintiv Inc. has a fifty-two week low of $36.62 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 stock has a market cap of $10.36 billion, a P/E ratio of 5.28 and a beta of 2.55. The business's 50-day moving average price is $42.97 and its two-hundred day moving average price is $41.91.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv's dividend payout ratio is 28.57%.

Ovintiv Company 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.