Mariner LLC Sells 1,933,901 Shares of Ovintiv Inc. (NYSE:OVV)

Mariner LLC cut its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 85.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,206 shares of the company's stock after selling 1,933,901 shares during the quarter. Mariner LLC owned about 0.13% of Ovintiv worth $13,211,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ninepoint Partners LP grew its holdings in Ovintiv by 16.9% in the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock worth $9,112,000 after purchasing an additional 32,500 shares during the period. Franklin Resources Inc. grew its position in Ovintiv by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock worth $11,527,000 after purchasing an additional 37,341 shares during the period. Westpac Banking Corp increased its position in Ovintiv by 64.8% during the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after acquiring an additional 12,340 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Ovintiv by 4.4% during the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock valued at $12,288,000 after purchasing an additional 13,536 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 valued at $77,508,000 after acquiring an additional 45,147 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Up 0.4 %

NYSE:OVV traded up $0.13 during trading hours on Wednesday, reaching $33.71. The company's stock had a trading volume of 792,754 shares, compared to its average volume of 3,157,359. 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 company has a market capitalization of $8.78 billion, a P/E ratio of 4.47 and a beta of 2.04. The stock has a 50 day moving average price of $39.22 and a two-hundred day moving average price of $41.25. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $53.57.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is currently 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OVV shares. Barclays lifted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Morgan Stanley restated an "overweight" rating and set a $50.00 price target on shares of Ovintiv in a report on Tuesday, April 15th. National Bankshares upped their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Scotiabank upgraded Ovintiv to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and dropped their target price for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $56.12.

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.