State of Alaska Department of Revenue Cuts Position in Ovintiv Inc. (NYSE:OVV)

State of Alaska Department of Revenue trimmed its position in Ovintiv Inc. (NYSE:OVV) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,680 shares of the company’s stock after selling 990 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ovintiv were worth $1,202,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after buying an additional 6,486,159 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Ovintiv by 7,422.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after buying an additional 1,340,947 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after buying an additional 1,207,610 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Ovintiv by 1,807.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock valued at $32,070,000 after buying an additional 750,349 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Ovintiv by 42.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after buying an additional 350,909 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OVV has been the topic of several analyst reports. Mizuho dropped their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Barclays raised their target price on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Truist Financial lifted their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Scotiabank increased their target price on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday, November 18th. Finally, National Bankshares lifted 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. Four investment 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’s stock. According to MarketBeat.com, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $42.76 on Thursday. The company has a market cap of $11.13 billion, a PE ratio of 5.67 and a beta of 2.60. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The firm has a 50-day simple moving average of $42.19 and a 200 day simple moving average of $42.07. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

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.