FMR LLC & Abigail Johnson Hold 8.469% Stake in Ovintiv Inc.

TL;DR

**FMR LLC and Abigail Johnson still own 8.469% of Ovintiv, showing continued institutional interest.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Ovintiv Inc. (OVV) to 8.469% of the common stock, totaling 23,112,701 shares, as of February 9, 2024. This filing, an amendment to a previous SC 13G, indicates a significant, but passive, institutional holding. For investors, this shows that a large, reputable firm maintains a substantial position in Ovintiv, potentially signaling confidence in the company's long-term prospects, but it doesn't suggest any immediate changes in company strategy or control.

Why It Matters

This filing confirms that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, continue to hold a significant, passive stake in Ovintiv Inc., which can be seen as a vote of confidence in the company's value.

Risk Assessment

Risk Level: low — This filing is an amendment to a passive ownership report, indicating no immediate change in control or strategy, thus posing low risk.

Analyst Insight

Investors should note that a major institutional investor maintains a substantial, passive stake in Ovintiv Inc., which could be a positive signal, but this filing alone doesn't suggest any immediate catalysts or changes in company direction.

Key Numbers

• 23,112,701 — Shares Beneficially Owned (Total common stock shares of Ovintiv Inc. owned by FMR LLC and Abigail P. Johnson.)
• 8.469% — Percent of Class (The percentage of Ovintiv Inc.'s common stock beneficially owned by FMR LLC and Abigail P. Johnson.)
• 20240209 — Filed As Of Date (The date this SC 13G/A amendment was filed, reflecting the ownership as of this date.)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
• Ovintiv Inc. (company) — the issuer of the common stock
• 01 Energy & Transportation (company) — organization name associated with Ovintiv Inc.

Forward-Looking Statements

• FMR LLC will maintain a significant, passive stake in Ovintiv Inc. for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09

FAQ

From the Filing

0000315066-24-001281.txt : 20240209 0000315066-24-001281.hdr.sgml : 20240209 20240209092833 ACCESSION NUMBER: 0000315066-24-001281 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 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: 24611915 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: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.1 OVINTIV INC COMMON STOCK Cusip #69047Q102 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) Cusip #69047Q102 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 21,308,754 Item 6: 0 Item 7: 23,112,701 Item 8: 0 Item 9: 23,112,701 Item 11: 8.469% Item 12: HC Cusip #69047Q102 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 23,112,701 Item 8: 0 Item 9: 23,112,701 Item 11: 8.469% Item 12: IN 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 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 69047Q102 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 23,112,701 (b) Percent of Class: 8.469% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 23,112,701 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of OVINTIV INC. No one other person's interest in the COMMON STOCK of OVINTIV INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing b