Ovintiv Inc. (NYSE:OVV) Shares Sold by PDT Partners LLC

PDT Partners LLC decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,373 shares of the company's stock after selling 7,834 shares during the quarter. PDT Partners LLC's holdings in Ovintiv were worth $825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in OVV. MassMutual Private Wealth & Trust FSB boosted its position in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Ovintiv by 71.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after purchasing an additional 335 shares in the last quarter. Mizuho Bank Ltd. purchased a new position in Ovintiv in the fourth quarter valued at about $40,000. Optiver Holding B.V. acquired a new position in shares of Ovintiv during the fourth quarter worth about $40,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Ovintiv by 3,571.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock worth $42,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and cut their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Truist Financial lifted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their price target on shares of Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $55.76.

Ovintiv Stock Performance

Shares of Ovintiv stock traded up $1.14 during trading on Friday, hitting $35.52. 4,070,733 shares of the stock were exchanged, compared to its average volume of 3,201,200. The stock has a market cap of $9.25 billion, a PE ratio of 4.71 and a beta of 2.04. The stock's fifty day moving average is $37.68 and its 200 day moving average is $40.81. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $52.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current 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 issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.38%. Ovintiv's dividend payout ratio (DPR) is presently 28.57%.

About Ovintiv

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.