Ovintiv Inc. (NYSE:OVV) Stock Holdings Lessened by Aigen Investment Management LP

Aigen Investment Management LP lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 35.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,756 shares of the company’s stock after selling 16,151 shares during the period. Aigen Investment Management LP’s holdings in Ovintiv were worth $1,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Ovintiv during the 2nd quarter worth approximately $39,000. UMB Bank n.a. boosted its stake in Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the period. International Assets Investment Management LLC acquired a new position in Ovintiv during the 2nd quarter valued at about $69,000. Covestor Ltd grew its position in Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after purchasing an additional 560 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Ovintiv by 24.0% in the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OVV shares. JPMorgan Chase & Co. reduced their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Morgan Stanley decreased their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Mizuho cut their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI dropped their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv Price Performance

NYSE OVV opened at $41.95 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.92 billion, a PE ratio of 5.56, a PEG ratio of 8.13 and a beta of 2.62. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The stock’s 50-day moving average price is $40.52 and its two-hundred day moving average price is $44.66.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is currently 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.