Trexquant Investment LP Sells 535,363 Shares of Ovintiv Inc. (NYSE:OVV)

Trexquant Investment LP lessened its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 81.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,106 shares of the company's stock after selling 535,363 shares during the period. Trexquant Investment LP's holdings in Ovintiv were worth $4,945,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in Ovintiv by 100.8% during 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 last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock worth $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in Ovintiv by 3,571.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC boosted its position in Ovintiv by 451.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock worth $46,000 after purchasing an additional 940 shares during the period. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Ovintiv by 4,132.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company's stock valued at $53,000 after purchasing an additional 1,281 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts recently commented on OVV shares. Williams Trading set a $58.00 target price on shares of Ovintiv in a report on Wednesday, March 5th. Mizuho reduced their price target on Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. National Bankshares boosted 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. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $57.00 in a research report on Monday, March 24th. Finally, Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $57.17.

Ovintiv Stock Down 12.0 %

OVV stock traded down $4.30 during trading on Thursday, reaching $31.67. 1,864,434 shares of the stock were exchanged, compared to its average volume of 3,140,650. The firm's 50 day moving average is $41.09 and its 200 day moving average is $41.70. The firm has a market cap of $8.25 billion, a P/E ratio of 4.21 and a beta of 2.04. 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 twelve month low of $29.80 and a twelve month high of $55.95.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.79%. Ovintiv's dividend payout ratio (DPR) is presently 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.