Advisory Research Inc. decreased its position in shares of Ovintiv Inc. (NYSE:OVV – Get Rating) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,079,647 shares of the company’s stock after selling 77,820 shares during the quarter. Ovintiv accounts for 4.9% of Advisory Research Inc.’s portfolio, making the stock its 3rd largest position. Advisory Research Inc. owned about 0.43% of Ovintiv worth $49,664,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in OVV. Raymond James & Associates lifted its position in Ovintiv by 35.3% during the first quarter. Raymond James & Associates now owns 57,458 shares of the company’s stock valued at $3,107,000 after purchasing an additional 14,978 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Ovintiv during the first quarter valued at approximately $525,000. HighTower Advisors LLC bought a new position in Ovintiv during the first quarter valued at approximately $715,000. Cetera Advisor Networks LLC bought a new position in Ovintiv during the first quarter valued at approximately $224,000. Finally, PNC Financial Services Group Inc. lifted its position in Ovintiv by 45.7% during the first quarter. PNC Financial Services Group Inc. now owns 15,605 shares of the company’s stock valued at $843,000 after purchasing an additional 4,895 shares during the period. Hedge funds and other institutional investors own 76.76% of the company’s stock.
Insiders Place Their Bets
In other Ovintiv news, Director Howard John Mayson sold 3,000 shares of Ovintiv stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $45.62, for a total value of $136,860.00. Following the completion of the transaction, the director now directly owns 21,403 shares of the company’s stock, valued at approximately $976,404.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Cowen increased their price target on shares of Ovintiv to $79.00 in a research report on Tuesday, November 15th. Mizuho decreased their price target on shares of Ovintiv from $70.00 to $66.00 in a research report on Friday. Siebert Williams Shank assumed coverage on shares of Ovintiv in a research report on Friday, December 9th. They issued a “buy” rating and a $75.00 price target on the stock. Citigroup decreased their price target on shares of Ovintiv from $66.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Ovintiv from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $53.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $68.16.
Ovintiv Stock Performance
OVV opened at $37.61 on Tuesday. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 2.65, a PEG ratio of 0.21 and a beta of 2.79. The company has a fifty day moving average of $46.80 and a 200 day moving average of $49.86. Ovintiv Inc. has a fifty-two week low of $36.81 and a fifty-two week high of $63.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.61 and a current ratio of 0.61.
Ovintiv Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.00 annualized dividend and a yield of 2.66%. Ovintiv’s payout ratio is 7.04%.
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.