Ovintiv Inc. (NYSE:OVV) Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Ovintiv Inc. (NYSE:OVV) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 488,816 shares of the company’s stock after selling 15,946 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Ovintiv worth $19,797,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in 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. bought a new position in Ovintiv during the 3rd quarter worth approximately $65,000. Covestor Ltd lifted its holdings in shares of Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after purchasing an additional 560 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after purchasing an additional 282 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

OVV has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and cut their price target for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Citigroup cut their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. National Bankshares raised their price target on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Scotiabank raised their price target on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Stock Down 5.8 %

Shares of OVV stock opened at $42.76 on Thursday. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The stock has a market cap of $11.13 billion, a PE ratio of 5.67 and a beta of 2.60. The business’s fifty day moving average is $42.19 and its 200-day moving average is $42.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

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.