DAVENPORT & Co LLC Boosts Stake in Ovintiv Inc. (NYSE:OVV)

DAVENPORT & Co LLC grew its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 1,021.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,384 shares of the company's stock after buying an additional 14,923 shares during the period. DAVENPORT & Co LLC's holdings in Ovintiv were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers raised its position in Ovintiv by 1.0% in the second quarter. Cetera Investment Advisers now owns 37,466 shares of the company's stock valued at $1,756,000 after purchasing an additional 353 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Ovintiv in the 2nd quarter valued at approximately $302,000. CWM LLC boosted its position in Ovintiv by 6.0% during the 3rd quarter. CWM LLC now owns 13,531 shares of the company's stock worth $518,000 after buying an additional 769 shares during the period. UMB Bank n.a. increased its position in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after acquiring an additional 286 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Ovintiv by 29.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,606 shares of the company's stock valued at $253,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Trading Up 2.0 %

Ovintiv stock traded up $0.90 during trading hours on Tuesday, reaching $45.39. The stock had a trading volume of 2,490,695 shares, compared to its average volume of 2,516,139. The company has a fifty day simple moving average of $42.17 and a 200-day simple moving average of $42.07. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The stock has a market cap of $11.81 billion, a PE ratio of 6.02 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Mizuho cut their price objective on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Siebert Williams Shank upgraded Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. UBS Group decreased their price objective on Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a report on Monday, December 9th. Finally, Barclays increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Four 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. Based on data from MarketBeat.com, Ovintiv presently has an average rating of "Moderate Buy" and a consensus price target of $56.88.

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.