abrdn plc Buys Shares of 8,693 Ovintiv Inc. (NYSE:OVV)

abrdn plc bought a new stake in Ovintiv Inc. (NYSE:OVV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,693 shares of the company’s stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OVV. True Wealth Design LLC increased its holdings in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 purchasing an additional 360 shares during the period. UMB Bank n.a. grew its stake in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares during the period. Transamerica Financial Advisors Inc. acquired a new stake in Ovintiv in the third quarter worth $65,000. Finally, Covestor Ltd increased its holdings 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 in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OVV. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Citigroup cut 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. National Bankshares lifted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, UBS Group dropped their target price on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.88.

Ovintiv Stock Up 2.0 %

Shares of NYSE OVV opened at $45.39 on Wednesday. Ovintiv Inc. has a 12-month low of $36.90 and a 12-month high of $55.95. The business’s fifty day simple moving average is $42.17 and its 200-day simple moving average is $42.07. 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 stock has a market cap of $11.81 billion, a P/E ratio of 6.02 and a beta of 2.60.

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.