Two Sigma Advisers LP Sells 24,200 Shares of Ovintiv Inc. (NYSE:OVV)

Two Sigma Advisers LP lessened its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,248,550 shares of the company's stock after selling 24,200 shares during the quarter. Two Sigma Advisers LP owned about 0.48% of Ovintiv worth $50,566,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OVV. Colonial Trust Co SC acquired a new position in shares of Ovintiv during the fourth quarter valued at $28,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Ovintiv by 71.3% during the fourth 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 period. Mizuho Bank Ltd. acquired a new position in shares of Ovintiv during the fourth quarter valued at $40,000. Finally, Optiver Holding B.V. acquired a new position in shares of Ovintiv during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Trading Up 0.4%

Shares of Ovintiv stock traded up $0.14 during trading hours on Friday, hitting $35.81. The company's stock had a trading volume of 3,202,824 shares, compared to its average volume of 3,256,787. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $51.72. The stock has a 50 day moving average of $36.63 and a 200 day moving average of $40.45. The company has a market capitalization of $9.30 billion, a PE ratio of 4.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.22. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. Analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.35%. Ovintiv's payout ratio is presently 51.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho cut their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Barclays cut their price target on Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and increased their target price for the company from $55.00 to $57.00 in a research note on Monday, March 24th. Wells Fargo & Company increased their target price on Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Finally, Scotiabank raised Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Ovintiv presently has an average rating of "Buy" and an average target price 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.