Mirae Asset Global Investments Co. Ltd. Increases Position in Ovintiv Inc. (NYSE:OVV)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Ovintiv Inc. (NYSE:OVV) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,404 shares of the company’s stock after purchasing an additional 1,826 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ovintiv were worth $691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. True Wealth Design LLC grew its position in shares of Ovintiv by 3,180.0% in the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Ovintiv during the 3rd quarter worth approximately $65,000. Covestor Ltd boosted its stake in shares of Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after acquiring an additional 560 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after buying an additional 282 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Scotiabank upped their target price on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. National Bankshares raised their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Barclays lifted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Mizuho decreased their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Price Performance

OVV stock opened at $42.76 on Thursday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The firm has a 50 day simple moving average of $42.19 and a two-hundred day simple moving average of $42.07. The stock has a market cap of $11.13 billion, a PE ratio of 5.67 and a beta of 2.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

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.