Schonfeld Strategic Advisors LLC Lowers Stock Position in Ovintiv Inc. (NYSE:OVV)

Schonfeld Strategic Advisors LLC lowered its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 71.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,419 shares of the company's stock after selling 163,016 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Ovintiv were worth $2,690,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OVV. Arrowstreet Capital Limited Partnership raised its stake in shares of Ovintiv by 1,732.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock valued at $137,134,000 after purchasing an additional 3,203,087 shares during the period. Price T Rowe Associates Inc. MD raised its position in Ovintiv by 1,577.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company's stock worth $99,587,000 after purchasing an additional 2,312,292 shares during the period. AQR Capital Management LLC lifted its stake in Ovintiv by 69.7% in the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock worth $132,992,000 after purchasing an additional 1,348,221 shares during the last quarter. Webs Creek Capital Management LP purchased a new stake in Ovintiv during the fourth quarter valued at about $54,086,000. Finally, Pacific Heights Asset Management LLC grew its stake in shares of Ovintiv by 697.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company's stock valued at $61,358,000 after buying an additional 1,325,000 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Down 2.2 %

OVV stock traded down $0.76 during midday trading on Wednesday, hitting $33.89. The company's stock had a trading volume of 6,422,682 shares, compared to its average volume of 3,225,555. The company has a market cap of $8.82 billion, a PE ratio of 4.49 and a beta of 1.14. The firm's 50-day moving average is $37.17 and its 200-day moving average is $40.68. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $51.76. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.22. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. On average, equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 3.54%. Ovintiv's payout ratio is 28.57%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OVV. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and dropped their target price for the company from $55.00 to $54.00 in a report on Monday, January 13th. Barclays lowered their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $55.00 to $57.00 in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Scotiabank upgraded Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ovintiv currently has an average 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.