BlackRock Amends Ovintiv Stake, Signals Portfolio Adjustment

Ticker: OVV · Form: SC 13G/A · Filed: 2024-01-24T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**BlackRock updated its Ovintiv stake, watch for potential market reaction.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 24, 2024, indicating a change in its ownership of Ovintiv Inc. common stock as of December 31, 2023. This filing, Amendment No. 4, updates their previous disclosures regarding their passive investment in the crude petroleum and natural gas company. For investors, this matters because BlackRock is a major institutional investor, and changes in their holdings can signal shifts in their confidence or investment strategy regarding Ovintiv Inc.

Why It Matters

This filing shows BlackRock's updated position in Ovintiv, which can influence market perception and potentially impact the stock price due to the sheer size of BlackRock's investments.

Risk Assessment

Risk Level: low — This is a routine amendment by a passive institutional investor and does not indicate any immediate or significant risk to the company or its shareholders.

Analyst Insight

An investor should note BlackRock's continued presence as a major shareholder, but this specific filing, being an amendment to a passive stake, doesn't necessitate immediate action beyond monitoring future filings for significant changes in ownership percentage.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G, filed under the Securities Exchange Act of 1934, specifically Amendment No. 4, as stated in the filing.

Who is the reporting person in this filing?

The reporting person is BlackRock Inc., as identified in the 'FILED BY' section and on the cover page of the Schedule 13G.

What is the subject company whose securities are being reported?

The subject company is Ovintiv Inc., as stated in the 'SUBJECT COMPANY' section and on the Schedule 13G form itself.

What is the CUSIP number for the securities mentioned in this filing?

The CUSIP number for the Common Stock of Ovintiv Inc. is 69047Q102, as listed on the cover page of the Schedule 13G.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated on the Schedule 13G form.

From the Filing

0001086364-24-002285.txt : 20240124 0001086364-24-002285.hdr.sgml : 20240124 20240124142716 ACCESSION NUMBER: 0001086364-24-002285 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240124 DATE AS OF CHANGE: 20240124 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Ovintiv Inc. CENTRAL INDEX KEY: 0001792580 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91354 FILM NUMBER: 24555867 BUSINESS ADDRESS: STREET 1: 370 - 17TH STREET, SUITE 1700 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: (303) 623-2300 MAIL ADDRESS: STREET 1: 370 - 17TH STREET, SUITE 1700 CITY: DENVER STATE: CO ZIP: 80202 FORMER COMPANY: FORMER CONFORMED NAME: 1847432 Alberta ULC DATE OF NAME CHANGE: 20191029 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us69047q1022_012424.txt us69047q1022_012424.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 4) OVINTIV INC. -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 69047Q102 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 69047Q102 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 26939990 (6) Shared voting power 0 (7) Sole dispositive power 28420951 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 28420951 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 10.5% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- OVINTIV INC. Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 370 - 17TH STREET, SUITE 1700 DENVER CO 80202 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2

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