Ovintiv Inc. (NYSE:OVV) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 57.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,975 shares of the company’s stock after selling 17,304 shares during the period. Los Angeles Capital Management LLC’s holdings in Ovintiv were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Ovintiv by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,204,165 shares of the company’s stock worth $856,115,000 after purchasing an additional 1,769,917 shares during the period. FMR LLC increased its position in Ovintiv by 8.6% during the 2nd quarter. FMR LLC now owns 4,602,185 shares of the company’s stock worth $144,832,000 after purchasing an additional 364,949 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ovintiv by 7.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,474,090 shares of the company’s stock worth $140,799,000 after acquiring an additional 298,459 shares during the period. Maple Rock Capital Partners Inc. grew its holdings in shares of Ovintiv by 77.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,327,728 shares of the company’s stock worth $73,254,000 after acquiring an additional 1,013,728 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Ovintiv by 8.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,117,480 shares of the company’s stock worth $66,637,000 after acquiring an additional 171,006 shares during the period. Institutional investors own 69.99% of the company’s stock.

Shares of Ovintiv stock opened at $41.33 on Friday. Ovintiv Inc. has a fifty-two week low of $15.51 and a fifty-two week high of $41.34. The firm has a market cap of $10.76 billion, a PE ratio of -18.21 and a beta of 3.60. The business’s fifty day moving average is $35.11 and its two-hundred day moving average is $32.15. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.26.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, November 2nd. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. Ovintiv had a positive return on equity of 29.47% and a negative net margin of 8.50%. During the same period last year, the company posted ($0.03) EPS. Equities research analysts anticipate that Ovintiv Inc. will post 5.47 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Tuesday, December 14th. Ovintiv’s dividend payout ratio (DPR) is currently -24.67%.

A number of equities research analysts recently weighed in on OVV shares. Zacks Investment Research cut Ovintiv from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a report on Tuesday, September 28th. Seaport Global Securities started coverage on Ovintiv in a report on Thursday, September 23rd. They issued a “buy” rating and a $42.00 price target on the stock. Truist Securities upped their price target on Ovintiv from $50.00 to $53.00 in a report on Friday. Raymond James upped their price target on Ovintiv from $45.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, November 3rd. Finally, Mizuho lowered their target price on Ovintiv from $56.00 to $54.00 in a report on Monday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Buy” and a consensus price target of $38.57.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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