Natixis Advisors LLC Sells 8,264 Shares of Ovintiv Inc. (NYSE:OVV)

Natixis Advisors LLC lowered its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 19.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,596 shares of the company’s stock after selling 8,264 shares during the quarter. Natixis Advisors LLC’s holdings in Ovintiv were worth $1,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its position in Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after acquiring an additional 1,618,556 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Ovintiv by 7,422.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after acquiring an additional 1,340,947 shares during the last quarter. SIR Capital Management L.P. purchased a new stake in shares of Ovintiv in the second quarter valued at $22,732,000. Victory Capital Management Inc. raised its stake in shares of Ovintiv by 42.6% in the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after acquiring an additional 350,909 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ovintiv by 338.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 445,187 shares of the company’s stock worth $20,866,000 after acquiring an additional 343,709 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. UBS Group increased their price target on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Royal Bank of Canada dropped their price objective on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company cut their price objective on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Finally, Morgan Stanley decreased their target price on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.65.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $45.73 on Wednesday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a market capitalization of $11.90 billion, a PE ratio of 6.06 and a beta of 2.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50-day simple moving average of $41.62 and a two-hundred day simple moving average of $44.13.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is 15.92%.

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.