Machina Capital S.A.S. Decreases Position in Ovintiv Inc. (NYSE:OVV)

Machina Capital S.A.S. cut its stake in shares of Ovintiv Inc. (NYSE:OVV) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,057 shares of the company’s stock after selling 13,558 shares during the quarter. Machina Capital S.A.S.’s holdings in Ovintiv were worth $367,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC raised its stake in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after purchasing an additional 1,000 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in Ovintiv by 4,132.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock worth $53,000 after purchasing an additional 1,281 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Up 1.5 %

Shares of OVV stock opened at $38.55 on Friday. The firm has a market capitalization of $10.03 billion, a PE ratio of 5.11 and a beta of 2.55. 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 stock has a fifty day moving average of $43.04 and a two-hundred day moving average of $41.98. Ovintiv Inc. has a 1 year low of $36.62 and a 1 year high of $55.95.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.11%. Ovintiv’s dividend payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group lowered their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Citigroup reduced their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Barclays raised 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. National Bankshares lifted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Scotiabank boosted their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $56.88.

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.