Semanteon Capital Management LP Lowers Stake in Ovintiv Inc. (NYSE:OVV)

Semanteon Capital Management LP lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,665 shares of the company’s stock after selling 1,095 shares during the period. Semanteon Capital Management LP’s holdings in Ovintiv were worth $1,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock valued at $2,647,000 after buying an additional 231 shares during the period. CIBC Asset Management Inc boosted its position in Ovintiv by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after buying an additional 280 shares during the period. Fifth Third Bancorp boosted its position in Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after buying an additional 282 shares during the period. OneDigital Investment Advisors LLC boosted its position in Ovintiv by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock valued at $231,000 after buying an additional 298 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Ovintiv by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company’s stock valued at $830,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $42.18 on Friday. The company’s fifty day moving average price is $42.84 and its 200 day moving average price is $41.80. Ovintiv Inc. has a 12 month low of $36.62 and a 12 month high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $10.98 billion, a P/E ratio of 5.59 and a beta of 2.55.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.85%. Ovintiv’s dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on OVV. National Bankshares raised their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Truist Financial lifted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup decreased their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.78.

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.