Lazard Asset Management LLC Has $293,000 Position in Ovintiv Inc. (NYSE:OVV)

Lazard Asset Management LLC cut its holdings in shares of Ovintiv Inc. (NYSE:OVVGet Rating) by 97.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,724 shares of the company’s stock after selling 405,860 shares during the quarter. Lazard Asset Management LLC’s holdings in Ovintiv were worth $293,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of OVV. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Ovintiv by 318.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 797,623 shares of the company’s stock worth $5,775,000 after acquiring an additional 606,969 shares during the last quarter. Morgan Stanley increased its holdings in shares of Ovintiv by 44.1% during the 2nd quarter. Morgan Stanley now owns 1,856,845 shares of the company’s stock worth $58,435,000 after acquiring an additional 568,546 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Ovintiv by 75.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,438 shares of the company’s stock worth $277,000 after acquiring an additional 3,621 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in Ovintiv by 35.2% in the 3rd quarter. Advisor Group Holdings Inc. now owns 22,257 shares of the company’s stock valued at $731,000 after buying an additional 5,790 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in Ovintiv in the 3rd quarter valued at $25,000. 76.96% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on OVV shares. Raymond James set a $60.00 price objective on Ovintiv and gave the company a “market perform” rating in a report on Tuesday. Barclays upped their price objective on Ovintiv from $45.00 to $56.00 in a report on Friday, March 18th. Capital One Financial raised Ovintiv from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $61.00 to $82.00 in a report on Wednesday, March 23rd. Bank of America downgraded Ovintiv from a “buy” rating to a “neutral” rating and upped their target price for the company from $60.00 to $73.00 in a research report on Tuesday, March 8th. Finally, Royal Bank of Canada cut their target price on Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $56.62.

Ovintiv stock opened at $45.15 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $11.68 billion, a PE ratio of 9.96 and a beta of 3.17. Ovintiv Inc. has a 12 month low of $21.92 and a 12 month high of $57.60. The stock has a 50-day moving average price of $50.61 and a two-hundred day moving average price of $42.13.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This is an increase from Ovintiv’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.21%.

In other Ovintiv news, Director Thomas G. Ricks sold 10,000 shares of the stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $53.73, for a total value of $537,300.00. Following the completion of the transaction, the director now directly owns 145,500 shares in the company, valued at $7,817,715. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard John Mayson sold 2,200 shares of the stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $48.09, for a total value of $105,798.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Ovintiv Profile (Get Rating)

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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