Ovintiv Inc. (NYSE:OVV) Shares Sold by Trexquant Investment LP

Trexquant Investment LP decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 81.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OVV. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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 boosted its position in Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after buying an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 940 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake 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 acquiring an additional 1,281 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Stock Down 15.8 %

Shares of NYSE OVV opened at $32.89 on Friday. The business has a 50-day moving average price of $42.11 and a 200 day moving average price of $41.96. The stock has a market cap of $8.57 billion, a PE ratio of 4.36 and a beta of 2.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52-week low of $32.63 and a 52-week high of $55.95.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.30 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.65%. Ovintiv’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

OVV has been the topic of several recent research reports. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research note on Wednesday, March 5th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Mizuho dropped their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Barclays raised their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $57.17.

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.