Swiss National Bank Sells 47,700 Shares of Ovintiv Inc. (NYSE:OVV)

Swiss National Bank decreased its holdings in Ovintiv Inc. (NYSE:OVV) by 6.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 744,700 shares of the company’s stock after selling 47,700 shares during the quarter. Swiss National Bank’s holdings in Ovintiv were worth $30,160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OVV. EverSource Wealth Advisors LLC raised its stake in Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after acquiring an additional 940 shares during the period. HighTower Advisors LLC increased its holdings in shares of Ovintiv by 4.7% in the fourth quarter. HighTower Advisors LLC now owns 16,175 shares of the company’s stock valued at $655,000 after purchasing an additional 719 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Ovintiv in the fourth quarter valued at about $351,000. Daiwa Securities Group Inc. lifted its stake in shares of Ovintiv by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock worth $830,000 after buying an additional 300 shares during the last quarter. Finally, Isthmus Partners LLC bought a new stake in shares of Ovintiv during the 4th quarter worth about $235,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OVV has been the subject of several research reports. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Citigroup dropped their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Scotiabank upped their price objective on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Finally, National Bankshares upped their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.61.

Ovintiv Trading Up 1.3 %

Shares of OVV stock opened at $41.06 on Tuesday. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95. The stock’s fifty day moving average price is $42.87 and its two-hundred day moving average price is $41.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $10.69 billion, a PE ratio of 5.45 and a beta of 2.55.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 28.57%.

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.