Savant Capital LLC Makes New Investment in Ovintiv Inc. (NYSE:OVV)

Savant Capital LLC purchased a new stake in Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 42,641 shares of the company’s stock, valued at approximately $1,727,000.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OVV shares. Scotiabank lifted their price target 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 lowered their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Wells Fargo & Company lowered their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. 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. Finally, National Bankshares raised their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Four equities 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Stock Performance

Shares of OVV opened at $43.29 on Friday. The stock has a 50-day moving average of $42.20 and a two-hundred day moving average of $42.07. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $11.27 billion, a P/E ratio of 5.74 and a beta of 2.60.

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.