Swiss National Bank Sells 30,700 Shares of Ovintiv Inc. (NYSE:OVV)

Swiss National Bank cut its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 810,600 shares of the company's stock after selling 30,700 shares during the quarter. Swiss National Bank owned 0.30% of Ovintiv worth $35,602,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of OVV. Quent Capital LLC grew its holdings in Ovintiv by 151.3% during the fourth quarter. Quent Capital LLC now owns 583 shares of the company's stock worth $26,000 after acquiring an additional 351 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Ovintiv by 107.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company's stock worth $31,000 after purchasing an additional 341 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in Ovintiv during the fourth quarter valued at approximately $37,000. Quantbot Technologies LP bought a new stake in Ovintiv during the third quarter worth approximately $38,000. Finally, Fifth Third Bancorp increased its holdings in shares of Ovintiv by 42.1% in the third quarter. Fifth Third Bancorp now owns 1,617 shares of the company's stock valued at $77,000 after buying an additional 479 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Ovintiv Stock Down 3.1 %

OVV stock traded down $1.63 during trading hours on Wednesday, hitting $50.88. The company's stock had a trading volume of 6,413,754 shares, compared to its average volume of 3,048,704. The company has a market capitalization of $13.68 billion, a PE ratio of 6.45 and a beta of 2.65. The stock has a 50 day moving average price of $51.85 and a two-hundred day moving average price of $46.71. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53. Ovintiv Inc. has a 12 month low of $32.07 and a 12 month high of $55.95.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. On average, equities research analysts expect that Ovintiv Inc. will post 6.13 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.36%. Ovintiv's payout ratio is currently 15.21%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OVV shares. National Bankshares reduced their target price on Ovintiv from $69.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, January 10th. Citigroup lifted their target price 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. Barclays initiated coverage on shares of Ovintiv in a research report on Wednesday, April 10th. They issued an "overweight" rating and a $69.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Ovintiv from $47.00 to $56.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 26th. Finally, Jefferies Financial Group raised their target price on Ovintiv from $59.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, April 12th. Four investment 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.71.

Insider Buying and Selling at Ovintiv

In related news, Director Howard John Mayson sold 6,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the sale, the director now directly owns 36,840 shares of the company's stock, valued at approximately $1,862,630.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ovintiv news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv 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 transaction, the executive vice president now directly owns 52,557 shares of the company's stock, valued at approximately $2,662,012.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Howard John Mayson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the sale, the director now directly owns 36,840 shares of the company's stock, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,564 shares of company stock worth $4,660,818 over the last 90 days. Insiders own 0.97% of the company's stock.

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.