Ovintiv Inc. (NYSE:OVV) Shares Sold by Prelude Capital Management LLC

Prelude Capital Management LLC trimmed its stake in Ovintiv Inc. (NYSE:OVV – Get Rating) by 39.4% during the third quarter, HoldingsChannel.com reports. The fund owned 7,714 shares of the company’s stock after selling 5,014 shares during the period. Prelude Capital Management LLC’s holdings in Ovintiv were worth $355,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its stake in Ovintiv by 26.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 950 shares of the company’s stock worth $44,000 after acquiring an additional 200 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Ovintiv by 1.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,533 shares of the company’s stock worth $1,082,000 after buying an additional 234 shares during the last quarter. Veriti Management LLC lifted its position in Ovintiv by 5.2% during the 3rd quarter. Veriti Management LLC now owns 5,602 shares of the company’s stock worth $258,000 after acquiring an additional 276 shares during the last quarter. Measured Wealth Private Client Group LLC boosted its stake in Ovintiv by 4.6% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 6,818 shares of the company’s stock valued at $314,000 after purchasing an additional 298 shares during the period. Finally, Silvant Capital Management LLC increased its position in Ovintiv by 15.2% during the third quarter. Silvant Capital Management LLC now owns 3,781 shares of the company’s stock worth $174,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 76.76% of the company’s stock.

Ovintiv Stock Performance

OVV stock opened at $37.61 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.41. Ovintiv Inc. has a twelve month low of $36.81 and a twelve month high of $63.30. The business’s fifty day moving average is $46.80 and its 200-day moving average is $49.86. The company has a market cap of $9.16 billion, a P/E ratio of 2.65, a price-to-earnings-growth ratio of 0.21 and a beta of 2.79.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 7.04%.

Analyst Ratings Changes

A number of analysts have recently issued reports on OVV shares. Morgan Stanley cut Ovintiv from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $60.00 to $51.00 in a research report on Tuesday, January 24th. Royal Bank of Canada decreased their price objective on shares of Ovintiv from $58.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 1st. Wells Fargo & Company cut their target price on shares of Ovintiv from $71.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, March 8th. Cowen increased their price target on Ovintiv to $79.00 in a research report on Tuesday, November 15th. Finally, Mizuho cut their price objective on Ovintiv from $70.00 to $66.00 in a research report on Friday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Transactions at Ovintiv

In related news, Director Howard John Mayson sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $45.62, for a total value of $136,860.00. Following the sale, the director now directly owns 21,403 shares in the company, valued at approximately $976,404.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

About Ovintiv

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Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.