Asset Management One Co. Ltd. Reduces Holdings in Ovintiv Inc. (NYSE:OVV)

Asset Management One Co. Ltd. cut its stake in shares of Ovintiv Inc. (NYSE:OVV) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,069 shares of the company’s stock after selling 4,735 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Ovintiv were worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of OVV. True Wealth Design LLC boosted 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 valued at $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Ovintiv by 100.8% in 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 period. Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv in the 3rd quarter worth approximately $65,000. Covestor Ltd lifted its holdings in Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after buying an additional 560 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in 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 buying an additional 282 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 research analysts have weighed in on the company. Scotiabank increased their price objective on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. UBS Group dropped their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Citigroup dropped their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Finally, National Bankshares raised their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Stock Up 2.2 %

Ovintiv stock opened at $45.43 on Thursday. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 6.03 and a beta of 2.60. The stock has a fifty day simple moving average of $42.45 and a two-hundred day simple moving average of $42.06. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

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.