Allspring Global Investments Holdings LLC Sells 36,710 Shares of Ovintiv Inc. (NYSE:OVV)

Allspring Global Investments Holdings LLC trimmed its holdings in Ovintiv Inc. (NYSE:OVV) by 97.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 913 shares of the company’s stock after selling 36,710 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ovintiv were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Ovintiv by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after acquiring an additional 1,024,931 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ovintiv by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock valued at $180,194,000 after buying an additional 142,296 shares during the period. AQR Capital Management LLC increased its position in shares of Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after buying an additional 1,618,556 shares during the period. Hsbc Holdings PLC increased its position in shares of Ovintiv by 6.2% during the second quarter. Hsbc Holdings PLC now owns 976,001 shares of the company’s stock valued at $45,778,000 after buying an additional 57,182 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Ovintiv by 34.3% during the second quarter. Victory Capital Management Inc. now owns 823,488 shares of the company’s stock valued at $38,597,000 after buying an additional 210,401 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OVV shares. UBS Group reduced their price target on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial reduced their price target on shares of Ovintiv from $62.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley cut their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Ovintiv Trading Up 0.0 %

Shares of NYSE OVV opened at $39.96 on Wednesday. The firm’s 50 day moving average price is $40.58 and its 200-day moving average price is $44.95. The company has a market cap of $10.53 billion, a PE ratio of 5.64, a P/E/G ratio of 7.42 and a beta of 2.62. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44.

About Ovintiv

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.