Ovintiv Inc. (NYSE:OVV) Shares Sold by Mariner LLC

Mariner LLC cut its stake in shares of Ovintiv Inc. (NYSE:OVV) by 85.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,206 shares of the company’s stock after selling 1,933,901 shares during the period. Mariner LLC owned approximately 0.13% of Ovintiv worth $13,211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ninepoint Partners LP increased its holdings in Ovintiv by 16.9% in the 4th quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock valued at $9,112,000 after purchasing an additional 32,500 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Ovintiv by 16.0% in the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock valued at $11,527,000 after buying an additional 37,341 shares in the last quarter. Westpac Banking Corp raised its holdings in shares of Ovintiv by 64.8% in the 4th quarter. Westpac Banking Corp now owns 31,369 shares of the company’s stock valued at $1,270,000 after buying an additional 12,340 shares during the period. Retirement Systems of Alabama lifted its stake in Ovintiv by 4.4% during the 3rd quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after acquiring an additional 13,536 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Ovintiv by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,774 shares of the company’s stock valued at $77,508,000 after acquiring an additional 45,147 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Stock Performance

Shares of OVV opened at $33.81 on Friday. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 4.48 and a beta of 2.04. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $53.57. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $39.84 and a 200 day moving average price of $41.43.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, March 14th. Ovintiv’s payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target on shares of Ovintiv in a research note on Tuesday. Williams Trading set a $58.00 target price on shares of Ovintiv in a research note on Wednesday, March 5th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the company from $55.00 to $54.00 in a research report on Monday, January 13th. BMO Capital Markets upgraded shares of Ovintiv from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $57.00 in a research note on Monday, March 24th. Finally, National Bankshares increased their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $56.06.

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.