Empowered Funds LLC Has $15.81 Million Position in Ovintiv Inc. (NYSE:OVV)

Empowered Funds LLC lifted its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 102.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 390,433 shares of the company's stock after acquiring an additional 197,381 shares during the quarter. Empowered Funds LLC owned about 0.15% of Ovintiv worth $15,813,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its stake 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 valued at $25,000 after acquiring an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock worth $29,000 after buying an additional 360 shares in the last quarter. UMB Bank n.a. boosted its holdings 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 buying an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new stake in Ovintiv during the third quarter worth approximately $65,000. Finally, Covestor Ltd boosted its holdings 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 buying an additional 560 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Performance

OVV traded down $2.64 during trading on Wednesday, hitting $42.76. The stock had a trading volume of 2,889,804 shares, compared to its average volume of 2,529,486. The firm has a market cap of $11.13 billion, a PE ratio of 5.67 and a beta of 2.60. Ovintiv Inc. has a 12 month low of $36.90 and a 12 month high of $55.95. 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 company has a 50 day simple moving average of $42.19 and a 200-day simple moving average of $42.07.

Wall Street Analysts Forecast Growth

OVV has been the subject of a number of research reports. Scotiabank raised their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a report on Monday, November 18th. Mizuho reduced their target price on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Wells Fargo & Company reduced their target price on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. UBS Group decreased their price objective on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Finally, Barclays raised their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Four 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 stock. According to data from MarketBeat, the company presently 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.