2,676 Shares in Ovintiv Inc. (NYSE:OVV) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,676 shares of the company’s stock, valued at approximately $108,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Ovintiv by 3,180.0% in 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 grew its position in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv in the 3rd quarter worth $65,000. Covestor Ltd raised its stake in Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after purchasing an additional 560 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Ovintiv by 13.4% in 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 during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 1.3 %

Shares of NYSE OVV opened at $43.29 on Friday. The stock has a market cap of $11.27 billion, a PE ratio of 5.74 and a beta of 2.60. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The business has a 50-day moving average price of $42.20 and a 200 day moving average price 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.

Analyst Ratings Changes

OVV has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Mizuho lowered their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their target price for the company from $55.00 to $54.00 in a report on Monday, January 13th. 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 report on Thursday, January 30th. Finally, Barclays raised their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. 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. According to MarketBeat.com, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

About Ovintiv

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.