Zurcher Kantonalbank Zurich Cantonalbank Sells 157,797 Shares of Ovintiv Inc. (NYSE:OVV)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 35.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,390 shares of the company's stock after selling 157,797 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of Ovintiv worth $11,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Ovintiv during the second quarter worth about $39,000. UMB Bank n.a. lifted its stake in Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after buying an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new position in Ovintiv in the third quarter valued at approximately $65,000. International Assets Investment Management LLC acquired a new position in shares of Ovintiv in the second quarter valued at approximately $69,000. Finally, Covestor Ltd raised its holdings in shares of Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company's stock worth $70,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Performance

NYSE OVV traded down $0.07 during trading on Friday, reaching $45.42. The company's stock had a trading volume of 1,158,304 shares, compared to its average volume of 3,108,043. The firm has a 50 day moving average price of $41.94 and a 200 day moving average price of $44.08. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 6.02 and a beta of 2.62. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.64%. Ovintiv's dividend payout ratio is presently 15.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OVV shares. Scotiabank lifted their target price on Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a research report on Monday, November 18th. UBS Group raised their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Truist Financial boosted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Barclays raised their price objective on Ovintiv from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. reduced their price target on Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.65.

Ovintiv 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.