Marshall Wace LLP Has $25.78 Million Position in Ovintiv Inc. $OVV

Marshall Wace LLP raised its position in Ovintiv Inc. (NYSE:OVV) by 65.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 677,481 shares of the company’s stock after purchasing an additional 267,173 shares during the quarter. Marshall Wace LLP owned 0.26% of Ovintiv worth $25,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennedy Capital Management LLC bought a new position in Ovintiv in the 2nd quarter valued at approximately $4,246,000. EverSource Wealth Advisors LLC increased its position in Ovintiv by 103.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,298 shares of the company’s stock valued at $126,000 after acquiring an additional 1,675 shares during the period. Systematic Financial Management LP raised its stake in shares of Ovintiv by 2.1% during the second quarter. Systematic Financial Management LP now owns 682,177 shares of the company’s stock valued at $25,957,000 after acquiring an additional 13,721 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ovintiv by 7.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,238,681 shares of the company’s stock worth $199,441,000 after purchasing an additional 368,249 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Ovintiv in the second quarter worth $563,000. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Ovintiv

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $42.50, for a total value of $2,125,000.00. Following the completion of the sale, the chief operating officer owned 155,867 shares of the company’s stock, valued at approximately $6,624,347.50. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Ovintiv Stock Down 1.1%

Shares of NYSE OVV opened at $41.81 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.43. The firm has a market cap of $10.59 billion, a PE ratio of 45.94, a P/E/G ratio of 1.04 and a beta of 0.77. The company’s fifty day simple moving average is $38.77 and its 200 day simple moving average is $39.68. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $46.35.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. As a group, sell-side analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.30 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 2.9%. Ovintiv’s dividend payout ratio is presently 131.87%.

Analyst Ratings Changes

Several research analysts recently issued reports on OVV shares. Barclays lowered their target price on Ovintiv from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lowered their price objective on Ovintiv from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Citigroup reduced their target price on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Zacks Research upgraded shares of Ovintiv from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Roth Capital initiated coverage on shares of Ovintiv in a research note on Monday, October 13th. They issued a “neutral” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.83.

About Ovintiv

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.