Ovintiv Inc. (NYSE:OVV) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Ovintiv Inc. (NYSE:OVV) by 26.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,256 shares of the company’s stock after acquiring an additional 2,786 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ovintiv were worth $508,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Ovintiv in the second quarter valued at approximately $39,000. Geneos Wealth Management Inc. increased its stake in Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock worth $45,000 after buying an additional 300 shares during the period. UMB Bank n.a. boosted its position in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after buying an additional 286 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Ovintiv during the second quarter worth about $69,000. Finally, Covestor Ltd lifted its stake in shares of Ovintiv by 23.1% in the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock worth $81,000 after acquiring an additional 293 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on OVV shares. JPMorgan Chase & Co. reduced their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Wolfe Research initiated coverage on Ovintiv in a research note on Thursday, July 18th. They set an “outperform” rating and a $65.00 price objective on the stock. Royal Bank of Canada dropped their price target on Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Finally, Mizuho lowered their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Ovintiv Stock Up 3.9 %

OVV stock opened at $43.17 on Friday. The firm’s 50-day moving average is $40.51 and its two-hundred day moving average is $44.91. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 6.09, a price-to-earnings-growth ratio of 7.99 and a beta of 2.62. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.

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.