Kingsview Wealth Management LLC Grows Position in Ovintiv Inc. (NYSE:OVV)

Kingsview Wealth Management LLC raised its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,638 shares of the company's stock after acquiring an additional 26,155 shares during the quarter. Kingsview Wealth Management LLC owned approximately 0.09% of Ovintiv worth $9,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock valued at $250,687,000 after purchasing an additional 6,486,159 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company's stock valued at $52,064,000 after acquiring an additional 1,340,947 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock worth $314,623,000 after acquiring an additional 1,207,610 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Ovintiv by 1,807.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock worth $32,070,000 after acquiring an additional 750,349 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Ovintiv by 42.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock valued at $44,991,000 after purchasing an additional 350,909 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Price Performance

OVV stock traded down $2.64 on Wednesday, reaching $42.76. 2,889,804 shares of the company's stock were exchanged, compared to its average volume of 2,529,486. The stock has a fifty day moving average of $42.19 and a 200-day moving average of $42.07. The firm has a market cap of $11.13 billion, a PE ratio of 5.67 and a beta of 2.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95.

Analyst Ratings Changes

Several research firms have recently issued reports on OVV. Wells Fargo & Company decreased their price objective on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Truist Financial increased their price objective on Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Bank of America upgraded Ovintiv from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. UBS Group dropped their price target on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Finally, Citigroup reduced their price objective on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Ovintiv currently has a consensus rating of "Moderate Buy" and an average target price 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.