Ovintiv Inc. (NYSE:OVV) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,157 shares of the company's stock after selling 13,673 shares during the quarter. Ensign Peak Advisors Inc's holdings in Ovintiv were worth $3,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ninepoint Partners LP raised its stake in shares of Ovintiv by 16.9% in the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company's stock valued at $9,112,000 after acquiring an additional 32,500 shares during the period. Westpac Banking Corp raised its stake in shares of Ovintiv by 64.8% in the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after acquiring an additional 12,340 shares during the period. BNP Paribas Financial Markets purchased a new position in Ovintiv in the 4th quarter worth about $25,272,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ovintiv by 19.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company's stock worth $8,768,000 after buying an additional 34,207 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Ovintiv by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company's stock worth $77,508,000 after buying an additional 45,147 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of Ovintiv stock traded down $0.30 during trading hours on Friday, reaching $37.33. 4,871,972 shares of the company's stock were exchanged, compared to its average volume of 3,237,522. The business has a fifty day moving average of $37.02 and a two-hundred day moving average of $40.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.70 billion, a P/E ratio of 4.95 and a beta of 1.14. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $51.72.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.22. The firm had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. As a group, research analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.21%. Ovintiv's payout ratio is 51.06%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OVV shares. National Bankshares raised their price target on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Barclays reduced their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 price target on shares of Ovintiv in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $55.65.

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.