Jump Financial LLC Sells 16,100 Shares of Ovintiv Inc. $OVV

Jump Financial LLC cut its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 67.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,800 shares of the company's stock after selling 16,100 shares during the period. Jump Financial LLC's holdings in Ovintiv were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Ovintiv by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,423,206 shares of the company's stock valued at $1,302,113,000 after purchasing an additional 959,711 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ovintiv by 383.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company's stock worth $396,267,000 after purchasing an additional 7,344,796 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Ovintiv by 3.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 8,437,152 shares of the company's stock worth $361,110,000 after purchasing an additional 284,656 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ovintiv by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,708,987 shares of the company's stock worth $244,338,000 after purchasing an additional 146,749 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Ovintiv by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,945,159 shares of the company's stock worth $126,053,000 after purchasing an additional 18,490 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OVV shares. Barclays boosted their price target on Ovintiv from $55.00 to $57.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Citigroup set a $54.00 price target on Ovintiv and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Scotiabank boosted their price target on Ovintiv from $48.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, UBS Group boosted their price target on Ovintiv from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $53.07.

Ovintiv Stock Performance

OVV stock traded down $1.51 during midday trading on Friday, reaching $41.09. 3,572,283 shares of the company were exchanged, compared to its average volume of 2,758,909. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day moving average price of $40.40 and a two-hundred day moving average price of $38.81. Ovintiv Inc. has a one year low of $29.80 and a one year high of $47.18. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 5.28 and a beta of 1.08.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.02). Ovintiv had a return on equity of 14.24% and a net margin of 6.46%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. Equities research analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.30 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.20 annualized dividend and a yield of 2.9%. Ovintiv's payout ratio is 53.10%.

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.