Fisher Asset Management LLC Has $35.77 Million Holdings in Ovintiv Inc. (NYSE:OVV)

Fisher Asset Management LLC lowered its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 814,493 shares of the company's stock after selling 210,340 shares during the period. Fisher Asset Management LLC owned approximately 0.30% of Ovintiv worth $35,773,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Xponance Inc. lifted its stake in shares of Ovintiv by 0.6% in the third quarter. Xponance Inc. now owns 41,823 shares of the company's stock worth $1,990,000 after acquiring an additional 240 shares in the last quarter. LPL Financial LLC raised its holdings in Ovintiv by 0.3% in the third quarter. LPL Financial LLC now owns 89,668 shares of the company's stock valued at $4,265,000 after acquiring an additional 261 shares in the last quarter. Blue Trust Inc. boosted its stake in Ovintiv by 20.5% during the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company's stock valued at $80,000 after acquiring an additional 284 shares during the last quarter. Signaturefd LLC boosted its stake in Ovintiv by 1.7% during the 3rd quarter. Signaturefd LLC now owns 19,093 shares of the company's stock valued at $908,000 after acquiring an additional 317 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Ovintiv by 20.3% in the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company's stock worth $85,000 after purchasing an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Activity

In other Ovintiv news, EVP Rachel Maureen Moore sold 9,300 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the completion of the sale, the executive vice president now directly owns 52,557 shares in the company, valued at $2,662,012.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ovintiv news, EVP Rachel Maureen Moore sold 9,300 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.65, for a total value of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares in the company, valued at $2,662,012.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the transaction, the director now owns 36,840 shares of the company's stock, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Insiders sold 91,564 shares of company stock worth $4,660,818 over the last three months. Corporate insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Ovintiv from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Wells Fargo & Company decreased their target price on Ovintiv from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 17th. Royal Bank of Canada upped their price target on Ovintiv from $48.00 to $49.00 and gave the company a "sector perform" rating in a research report on Thursday, February 29th. Barclays assumed coverage on shares of Ovintiv in a report on Wednesday, April 10th. They issued an "overweight" rating and a $69.00 price objective for the company. Finally, UBS Group increased their target price on shares of Ovintiv from $62.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ovintiv has a consensus rating of "Moderate Buy" and a consensus price target of $56.71.

Ovintiv Stock Performance

OVV stock traded up $0.47 on Friday, reaching $51.54. The company's stock had a trading volume of 2,782,248 shares, compared to its average volume of 2,329,908. The firm has a fifty day moving average of $51.59 and a two-hundred day moving average of $46.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $13.86 billion, a P/E ratio of 6.53 and a beta of 2.65. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $55.95.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.41. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. As a group, analysts predict that Ovintiv Inc. will post 6.13 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, March 14th. Ovintiv's dividend payout ratio is currently 15.21%.

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.