Entropy Technologies LP Lowers Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Entropy Technologies LP lessened its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 60.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,462 shares of the company's stock after selling 90,995 shares during the quarter. Entropy Technologies LP's holdings in Ovintiv were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC raised its position in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after purchasing an additional 636 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Ovintiv by 100.8% during the 4th 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 during the period. UMB Bank n.a. raised its position in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after purchasing an additional 286 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in shares of Ovintiv during the 3rd quarter valued at $65,000. Finally, Covestor Ltd raised its position in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after purchasing an additional 560 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Price Performance

Shares of Ovintiv stock traded up $0.57 during trading hours on Thursday, reaching $43.29. The company's stock had a trading volume of 1,421,600 shares, compared to its average volume of 2,491,279. 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 current ratio of 0.52 and a quick ratio of 0.52. The firm has a 50 day moving average price of $42.20 and a 200-day moving average price of $42.07. The stock has a market cap of $11.27 billion, a P/E ratio of 5.74 and a beta of 2.60.

Analyst Ratings Changes

Several brokerages have recently commented on OVV. Citigroup decreased their price objective on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company reduced their price target on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Barclays lifted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. National Bankshares lifted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Truist Financial lifted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.88.

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.