DRW Securities LLC Trims Stock Holdings in Ovintiv Inc. (NYSE:OVV)

DRW Securities LLC lessened its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 49.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,019 shares of the company's stock after selling 46,220 shares during the period. DRW Securities LLC's holdings in Ovintiv were worth $1,904,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HighTower Advisors LLC boosted its stake in Ovintiv by 17.5% during the third quarter. HighTower Advisors LLC now owns 15,456 shares of the company's stock worth $591,000 after acquiring an additional 2,303 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Ovintiv by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 20,385 shares of the company's stock worth $781,000 after buying an additional 322 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Ovintiv in the 3rd quarter valued at $214,000. National Bank of Canada FI increased its holdings in Ovintiv by 505.0% during the third quarter. National Bank of Canada FI now owns 108,017 shares of the company's stock worth $4,138,000 after buying an additional 90,163 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in shares of Ovintiv by 5.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 42,304 shares of the company's stock valued at $1,621,000 after acquiring an additional 2,244 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Trading Down 1.7 %

Shares of OVV traded down $0.57 during trading hours on Monday, hitting $32.21. The company had a trading volume of 1,180,824 shares, compared to its average volume of 3,150,248. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $54.23. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average price is $40.67 and its 200 day moving average price is $41.63. The firm has a market cap of $8.39 billion, a P/E ratio of 4.27 and a beta of 2.04.

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Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.73%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OVV shares. Barclays raised their target price on Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Truist Financial boosted their target price on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Morgan Stanley reiterated an "overweight" rating and issued a $57.00 price target on shares of Ovintiv in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company increased their price objective on Ovintiv from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "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.