Magnetar Financial LLC cut its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,520 shares of the company's stock after selling 20,918 shares during the quarter. Magnetar Financial LLC owned approximately 0.06% of Ovintiv worth $5,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after buying an additional 1,207,610 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock valued at $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ovintiv by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock valued at $173,296,000 after acquiring an additional 205,409 shares in the last quarter. Bank of New York Mellon Corp increased its position in Ovintiv by 0.3% during 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 purchasing an additional 8,168 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ovintiv by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after purchasing an additional 45,147 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on OVV. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $57.00 in a research report on Monday. Mizuho decreased their target price on Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Williams Trading set a $58.00 price target on Ovintiv in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their price target on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Ovintiv has an average rating of "Moderate Buy" and a consensus target price of $56.79.
Check Out Our Latest Research Report on Ovintiv
Ovintiv Stock Up 3.8 %
OVV stock traded up $1.59 during midday trading on Monday, hitting $43.05. The company's stock had a trading volume of 3,680,040 shares, compared to its average volume of 2,960,300. The firm's 50-day moving average is $42.77 and its 200-day moving average is $41.82. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. The company has a market cap of $11.21 billion, a PE ratio of 5.71 and a beta of 2.55.
Ovintiv Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th 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 2.79%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv's payout ratio is currently 28.57%.
About Ovintiv
(
Free Report)
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.
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