Van ECK Associates Corp Increases Holdings in Ovintiv Inc. (NYSE:OVV)

Van ECK Associates Corp lifted its position in Ovintiv Inc. (NYSE:OVV) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,587 shares of the company’s stock after purchasing an additional 473 shares during the quarter. Van ECK Associates Corp’s holdings in Ovintiv were worth $145,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its position in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Ovintiv during the third quarter valued at approximately $65,000. Covestor Ltd raised its position in 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 in the last quarter. Finally, Fifth Third Bancorp raised its position in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after acquiring an additional 282 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OVV shares. National Bankshares lifted their price target on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Scotiabank raised their price objective on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Trading Down 4.9 %

OVV opened at $43.33 on Monday. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 5.75 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. The business has a fifty day moving average price of $42.59 and a 200 day moving average price of $42.12.

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.