Blue Trust Inc. Decreases Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Blue Trust Inc. trimmed its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 22.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,079 shares of the company’s stock after selling 870 shares during the quarter. Blue Trust Inc.’s holdings in Ovintiv were worth $125,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OVV. True Wealth Design LLC increased its position in Ovintiv by 3,180.0% in the third 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 grew 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 valued at $29,000 after buying an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Ovintiv during the 3rd quarter valued at about $65,000. Covestor Ltd grew its holdings in Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after buying an additional 282 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on OVV. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their price target for the company from $55.00 to $54.00 in a research report on Monday, January 13th. Barclays upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Mizuho dropped their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. National Bankshares boosted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, UBS Group lowered their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Four 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Stock Performance

Ovintiv stock opened at $43.33 on Friday. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year 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. The firm has a 50-day moving average of $42.59 and a 200-day moving average of $42.10. The firm has a market cap of $11.28 billion, a P/E ratio of 5.75 and a beta of 2.60.

Ovintiv Company 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.