Fisher Asset Management LLC Sells 184,874 Shares of Ovintiv Inc. $OVV

Fisher Asset Management LLC trimmed its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 27.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 498,892 shares of the company’s stock after selling 184,874 shares during the quarter. Fisher Asset Management LLC owned about 0.19% of Ovintiv worth $18,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers grew its holdings in shares of Ovintiv by 27.0% during the first quarter. Cetera Investment Advisers now owns 36,997 shares of the company’s stock worth $1,583,000 after purchasing an additional 7,869 shares in the last quarter. LPL Financial LLC lifted its position in Ovintiv by 13.3% during the first quarter. LPL Financial LLC now owns 101,389 shares of the company’s stock valued at $4,339,000 after purchasing an additional 11,897 shares during the last quarter. Natixis Advisors LLC grew its stake in Ovintiv by 23.0% in the 1st quarter. Natixis Advisors LLC now owns 44,770 shares of the company’s stock worth $1,916,000 after buying an additional 8,377 shares in the last quarter. Harbour Investments Inc. grew its stake in Ovintiv by 143.8% in the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock worth $39,000 after buying an additional 542 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Ovintiv by 49.5% in the 1st quarter. US Bancorp DE now owns 14,776 shares of the company’s stock worth $632,000 after buying an additional 4,892 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. National Bankshares cut their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Barclays cut their price objective on Ovintiv from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Roth Capital assumed coverage on Ovintiv in a report on Monday, October 13th. They set a “neutral” rating and a $42.00 price objective on the stock. UBS Group upped their target price on Ovintiv from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.83.

Ovintiv Price Performance

OVV opened at $42.25 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $38.78 and its 200 day simple moving average is $39.53. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 1.02 and a beta of 0.77. Ovintiv Inc. has a 1 year low of $29.80 and a 1 year high of $46.35.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%.The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.86 billion. As a group, analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current 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 given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.20 annualized dividend and a yield of 2.8%. Ovintiv’s dividend payout ratio is presently 131.87%.

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.