Gulf International Bank UK Ltd Decreases Stake in Ovintiv Inc. (NYSE:OVV)

Gulf International Bank UK Ltd cut its holdings in Ovintiv Inc. (NYSE:OVV) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,947 shares of the company’s stock after selling 507 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Ovintiv were worth $848,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after buying an additional 1,207,610 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after buying an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. boosted its stake in shares of Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after buying an additional 212,535 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ovintiv by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after buying an additional 205,409 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ovintiv by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,669 shares of the company’s stock valued at $118,530,000 after buying an additional 8,168 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on OVV shares. Citigroup decreased their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. UBS Group decreased their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Barclays boosted their target price on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Scotiabank boosted their target price on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company decreased their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Stock Performance

Ovintiv stock opened at $43.47 on Monday. The firm has a market capitalization of $11.32 billion, a P/E ratio of 5.77 and a beta of 2.60. The stock has a fifty day moving average price of $43.03 and a 200 day moving average price of $42.13. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.76%. Ovintiv’s payout ratio is currently 28.57%.

Ovintiv Company 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.