Natixis Advisors LLC Lowers Holdings in Ovintiv Inc. (NYSE:OVV)

Natixis Advisors LLC lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 19.7% during the third quarter, HoldingsChannel.com reports. The fund owned 33,596 shares of the company’s stock after selling 8,264 shares during the quarter. Natixis Advisors LLC’s holdings in Ovintiv were worth $1,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Ovintiv during the 2nd quarter valued at approximately $39,000. UMB Bank n.a. grew its position in Ovintiv by 27.7% in the 3rd 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. International Assets Investment Management LLC acquired a new position in shares of Ovintiv during the second quarter valued at approximately $69,000. Covestor Ltd increased its position in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after purchasing an additional 560 shares during the period. Finally, Blue Trust Inc. raised its position in Ovintiv by 24.0% in the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock worth $93,000 after acquiring an additional 347 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Performance

NYSE:OVV opened at $45.73 on Wednesday. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 6.06 and a beta of 2.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The stock has a fifty day moving average price of $41.62 and a 200-day moving average price of $44.13.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio is 15.92%.

Wall Street Analyst Weigh In

OVV has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada cut their price objective on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Scotiabank lifted their target price on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. Morgan Stanley decreased their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Citigroup lowered their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.65.

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.