Jump Financial LLC Decreases Stock Position in Ovintiv Inc. (NYSE:OVV)

Jump Financial LLC cut its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 83.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,900 shares of the company's stock after selling 122,236 shares during the quarter. Jump Financial LLC's holdings in Ovintiv were worth $968,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OVV. Bridgewater Associates LP boosted its stake in shares of Ovintiv by 23.3% in the fourth quarter. Bridgewater Associates LP now owns 291,641 shares of the company's stock worth $11,811,000 after acquiring an additional 55,125 shares during the last quarter. Barclays PLC boosted its stake in Ovintiv by 4.3% during the 4th quarter. Barclays PLC now owns 489,259 shares of the company's stock worth $19,814,000 after purchasing an additional 20,262 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Ovintiv by 47.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 79,642 shares of the company's stock worth $3,226,000 after buying an additional 25,469 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Ovintiv by 52.6% in the fourth quarter. Sterling Capital Management LLC now owns 15,607 shares of the company's stock valued at $632,000 after buying an additional 5,381 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Ovintiv by 45.3% in the fourth quarter. Covestor Ltd now owns 2,667 shares of the company's stock worth $108,000 after buying an additional 832 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Trading Up 0.5 %

Shares of OVV stock traded up $0.17 on Friday, hitting $34.70. The stock had a trading volume of 2,328,351 shares, compared to its average volume of 3,187,066. The company's 50 day moving average price is $38.62 and its 200-day moving average price is $41.06. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $53.57. The firm has a market capitalization of $9.04 billion, a P/E ratio of 4.60 and a beta of 2.04. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. Ovintiv's dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Ovintiv in a research note on Tuesday, April 15th. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and cut their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. National Bankshares boosted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Finally, Wells Fargo & Company boosted their price target on shares of Ovintiv from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $55.76.

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.